TRUE Private Wealth Advisors Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

TRUE Private Wealth Advisors lessened its position in shares of Carrier Global Co. (NYSE:CARR) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,702 shares of the company’s stock after selling 1,948 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Carrier Global were worth $862,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Sierra Capital LLC purchased a new stake in shares of Carrier Global in the first quarter worth about $26,000. Heritage Wealth Advisors boosted its stake in shares of Carrier Global by 2,800.0% in the second quarter. Heritage Wealth Advisors now owns 725 shares of the company’s stock worth $35,000 after buying an additional 700 shares during the last quarter. Elmwood Wealth Management Inc. purchased a new stake in shares of Carrier Global in the first quarter worth about $31,000. Ameritas Investment Company LLC purchased a new stake in shares of Carrier Global in the first quarter worth about $44,000. Finally, Red Door Wealth Management LLC purchased a new stake in shares of Carrier Global in the second quarter worth about $53,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

In related news, VP Ajay Agrawal sold 18,969 shares of the stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $55.13, for a total value of $1,045,760.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Appel sold 34,259 shares of the stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $57.38, for a total value of $1,965,781.42. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

A number of analysts have recently commented on the company. Royal Bank of Canada upped their target price on Carrier Global from $55.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Barclays upped their price target on Carrier Global from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, July 8th. Wolfe Research cut Carrier Global from an “outperform” rating to a “peer perform” rating and upped their price target for the stock from $58.00 to $61.00 in a report on Tuesday, September 7th. Deutsche Bank Aktiengesellschaft upped their price target on Carrier Global from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Finally, Credit Suisse Group upped their price target on Carrier Global from $46.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 30th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Carrier Global has an average rating of “Buy” and an average price target of $53.24.

Shares of NYSE:CARR traded down $0.06 during midday trading on Wednesday, hitting $54.92. The company had a trading volume of 1,918 shares, compared to its average volume of 5,318,829. Carrier Global Co. has a twelve month low of $28.79 and a twelve month high of $58.89. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.56 and a quick ratio of 1.23. The stock has a market cap of $47.65 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.75 and a beta of 0.79. The business’s 50-day simple moving average is $54.33 and its 200-day simple moving average is $47.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 29th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. Carrier Global had a return on equity of 28.73% and a net margin of 12.65%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $4.95 billion. As a group, sell-side analysts forecast that Carrier Global Co. will post 2.22 EPS for the current year.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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