Carrier Global Co. (NYSE:CARR) Short Interest Update

Carrier Global Co. (NYSE:CARR) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 11,630,000 shares, a decrease of 11.6% from the August 15th total of 13,150,000 shares. Based on an average daily volume of 3,650,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 1.4% of the shares of the stock are sold short.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after buying an additional 466,829 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after purchasing an additional 2,961,923 shares during the period. Capital International Investors lifted its holdings in Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Carrier Global by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock valued at $764,500,000 after buying an additional 310,453 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Trading Up 0.3 %

Shares of Carrier Global stock traded up $0.23 during mid-day trading on Wednesday, hitting $78.19. The stock had a trading volume of 4,179,637 shares, compared to its average volume of 4,227,423. Carrier Global has a 12-month low of $45.68 and a 12-month high of $79.75. The firm has a 50-day moving average of $68.93 and a two-hundred day moving average of $63.69. The firm has a market cap of $70.45 billion, a P/E ratio of 54.68, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 EPS. Sell-side analysts forecast that Carrier Global will post 2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CARR shares. Royal Bank of Canada increased their price target on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Barclays raised their target price on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Bank of America increased their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $71.73.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.