Penobscot Investment Management Company Inc. Has $1.27 Million Stake in Carrier Global Co. (NYSE:CARR)

Penobscot Investment Management Company Inc. reduced its holdings in Carrier Global Co. (NYSE:CARR) by 8.6% during the 4th quarter, HoldingsChannel reports. The firm owned 18,607 shares of the company’s stock after selling 1,746 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Carrier Global were worth $1,270,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CARR. Summitry LLC raised its stake in Carrier Global by 3.2% during the 4th quarter. Summitry LLC now owns 531,044 shares of the company’s stock valued at $36,249,000 after purchasing an additional 16,473 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Carrier Global during the 4th quarter worth about $58,000. PKS Advisory Services LLC bought a new position in shares of Carrier Global during the 4th quarter worth about $334,000. TIAA Trust National Association raised its position in shares of Carrier Global by 1.2% during the fourth quarter. TIAA Trust National Association now owns 31,967 shares of the company’s stock valued at $2,182,000 after buying an additional 376 shares during the last quarter. Finally, Congress Wealth Management LLC DE lifted its stake in shares of Carrier Global by 29.7% in the fourth quarter. Congress Wealth Management LLC DE now owns 6,278 shares of the company’s stock valued at $429,000 after buying an additional 1,436 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CARR. Royal Bank of Canada cut their price target on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Barclays reduced their target price on Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Finally, JPMorgan Chase & Co. raised shares of Carrier Global from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $77.00 to $78.00 in a research report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $82.27.

Carrier Global Stock Down 1.7 %

NYSE CARR opened at $66.99 on Thursday. The stock’s 50 day simple moving average is $66.29 and its 200 day simple moving average is $71.90. Carrier Global Co. has a one year low of $53.33 and a one year high of $83.32. The firm has a market cap of $57.87 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 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 in the previous year, the firm earned $0.53 EPS. As a group, sell-side analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current fiscal 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.