GLOBALT Investments LLC GA Lowers Position in Carrier Global Co. (NYSE:CARR)

GLOBALT Investments LLC GA cut its stake in Carrier Global Co. (NYSE:CARR) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,507 shares of the company’s stock after selling 239 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Carrier Global were worth $1,127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. BOK Financial Private Wealth Inc. increased its position in shares of Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after acquiring an additional 160 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global during the third quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Carrier Global during the fourth quarter valued at approximately $31,000. Coastline Trust Co purchased a new stake in shares of Carrier Global during the third quarter valued at approximately $37,000. Finally, Roxbury Financial LLC purchased a new stake in shares of Carrier Global during the fourth quarter valued at approximately $49,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

NYSE:CARR opened at $67.62 on Tuesday. The firm has a market capitalization of $58.42 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 2.01 and a beta of 1.35. Carrier Global Co. has a 52-week low of $53.33 and a 52-week high of $83.32. The stock has a fifty day moving average of $66.39 and a 200 day moving average of $72.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter last year, the company earned $0.53 earnings per share. On average, research analysts expect that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised Carrier Global from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $77.00 to $78.00 in a research report on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Barclays cut their price target on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Wells Fargo & Company cut their price target on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Finally, Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, February 24th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.53.

About Carrier Global

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.