Bridges Investment Management Inc. Has $1.45 Million Stake in Carrier Global Co. (NYSE:CARR)

Bridges Investment Management Inc. increased its position in Carrier Global Co. (NYSE:CARR) by 7.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 23,036 shares of the company’s stock after acquiring an additional 1,640 shares during the period. Bridges Investment Management Inc.’s holdings in Carrier Global were worth $1,453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new position in shares of Carrier Global during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. lifted its position in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new stake in shares of Carrier Global during the 2nd quarter worth about $32,000. United Community Bank acquired a new position in shares of Carrier Global during the 4th quarter valued at about $34,000. Finally, Register Financial Advisors LLC bought a new position in shares of Carrier Global in the 1st quarter valued at approximately $34,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 0.8 %

Carrier Global stock opened at $79.93 on Friday. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $81.24. The stock has a market cap of $72.02 billion, a price-to-earnings ratio of 55.90, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The business has a 50 day moving average price of $69.49 and a two-hundred day moving average price of $63.96. 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 issued 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 quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $0.79 earnings per share. As a group, equities analysts forecast that Carrier Global Co. will post 2.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CARR shares. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Robert W. Baird dropped their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Bank of America upped their price target on shares of Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, September 13th. Wells Fargo & Company lifted their price objective on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

Insider Activity

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’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 owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.95% of the stock is owned by company insiders.

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.