Greenwich Wealth Management LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Greenwich Wealth Management LLC purchased a new position in shares of Carrier Global Co. (NYSE:CARR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,262 shares of the company’s stock, valued at approximately $206,000.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CARR shares. Morgan Stanley began coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Wells Fargo & Company raised their target price on shares of Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Robert W. Baird dropped their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Oppenheimer lifted their price target on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, Bank of America raised their price objective on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.73.

Carrier Global Trading Up 1.5 %

NYSE:CARR opened at $76.51 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global Co. has a one year low of $45.68 and a one year high of $77.48. The business’s 50-day simple moving average is $68.05 and its 200 day simple moving average is $63.28. The stock has a market cap of $68.94 billion, a price-to-earnings ratio of 53.50, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the company earned $0.79 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.95% of the company’s stock.

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.