Summit Trail Advisors LLC Grows Stock Position in Carrier Global Co. (NYSE:CARR)

Summit Trail Advisors LLC grew its holdings in shares of Carrier Global Co. (NYSE:CARR) by 26.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,847 shares of the company’s stock after purchasing an additional 4,557 shares during the quarter. Summit Trail Advisors LLC’s holdings in Carrier Global were worth $1,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in shares of Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after acquiring an additional 43,002 shares during the period. Nomura Holdings Inc. bought a new position in Carrier Global in the 4th quarter worth approximately $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Carrier Global by 50.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares during the period. GLOBALT Investments LLC GA bought a new position in Carrier Global in the 4th quarter worth approximately $859,000. Finally, United Services Automobile Association boosted its stake in Carrier Global by 9.2% in the 4th quarter. United Services Automobile Association now owns 26,758 shares of the company’s stock worth $1,537,000 after purchasing an additional 2,244 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is currently owned by corporate insiders.

Carrier Global Stock Performance

CARR stock opened at $79.92 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The business has a 50-day moving average price of $69.49 and a 200 day moving average price of $64.02. The company has a market capitalization of $72.01 billion, a P/E ratio of 55.89, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $81.24.

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

Analysts Set New Price Targets

Several research firms have weighed in on CARR. Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Royal Bank of Canada upped their price target on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Robert W. Baird lowered their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Bank of America raised their price target on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Finally, Wells Fargo & Company raised their price target on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. One investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Carrier Global 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.