Sunbelt Securities Inc. Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Sunbelt Securities Inc. lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,816 shares of the company’s stock after selling 217 shares during the quarter. Sunbelt Securities Inc.’s holdings in Carrier Global were worth $493,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CARR. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. increased its stake in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares during the period. EdgeRock Capital LLC acquired a new position in Carrier Global in the 2nd quarter valued at $32,000. Register Financial Advisors LLC acquired a new position in shares of Carrier Global during the 1st quarter worth $34,000. Finally, Rise Advisors LLC grew its stake in shares of Carrier Global by 3,668.8% during the 1st quarter. Rise Advisors LLC now owns 603 shares of the company’s stock worth $35,000 after purchasing an additional 587 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CARR. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Robert W. Baird decreased their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Bank of America boosted 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. Oppenheimer boosted their price objective on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Finally, Morgan Stanley began coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.73.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Trading Down 1.4 %

Shares of CARR stock opened at $79.33 on Wednesday. The firm has a market cap of $71.48 billion, a P/E ratio of 55.48, a PEG ratio of 3.23 and a beta of 1.32. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $81.64. 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 firm’s 50-day simple moving average is $71.23 and its 200-day simple moving average is $65.16.

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

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.