Clearstead Trust LLC Has $347,000 Stock Position in Carrier Global Co. (NYSE:CARR)

Clearstead Trust LLC raised its position in shares of Carrier Global Co. (NYSE:CARR) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,499 shares of the company’s stock after purchasing an additional 205 shares during the period. Clearstead Trust LLC’s holdings in Carrier Global were worth $347,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Carrier Global by 5.5% during the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Carrier Global during the fourth quarter worth $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after buying an additional 130,192 shares during the last quarter. GLOBALT Investments LLC GA bought a new stake in shares of Carrier Global during the fourth quarter worth $859,000. Finally, United Services Automobile Association grew its stake in shares of Carrier Global by 9.2% in the fourth 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 last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR opened at $77.11 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $69.48 billion, a P/E ratio of 53.92, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The firm’s fifty day simple moving average is $68.32 and its two-hundred day simple moving average is $63.43. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $77.48.

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, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the business 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, analysts predict that Carrier Global Co. will post 2.84 EPS for the current year.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CARR has been the topic of several analyst reports. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Robert W. Baird reduced 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 note on Friday, July 26th. 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 note on Friday, August 16th. Barclays boosted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.