Andrew Hill Investment Advisors Inc. Makes New $2.08 Million Investment in Carrier Global Co. (NYSE:CARR)

Andrew Hill Investment Advisors Inc. purchased a new position in shares of Carrier Global Co. (NYSE:CARR) during the 4th quarter, Holdings Channel.com reports. The firm purchased 36,217 shares of the company’s stock, valued at approximately $2,081,000. Carrier Global comprises approximately 2.2% of Andrew Hill Investment Advisors Inc.’s investment portfolio, making the stock its 25th largest position.

Other large investors have also made changes to their positions in the company. Modera Wealth Management LLC boosted its position in shares of Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock worth $1,165,000 after acquiring an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc boosted its position in shares of Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock worth $332,000 after acquiring an additional 476 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Carrier Global by 13.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 489,403 shares of the company’s stock valued at $28,209,000 after buying an additional 59,308 shares in the last quarter. Procyon Advisors LLC boosted its position in Carrier Global by 8.5% in the fourth quarter. Procyon Advisors LLC now owns 6,300 shares of the company’s stock valued at $362,000 after buying an additional 492 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Carrier Global by 1,020.9% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 30,252 shares of the company’s stock valued at $1,738,000 after buying an additional 27,553 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Activity

In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CARR. Royal Bank of Canada cut their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Citigroup raised their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company cut their target price on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Barclays raised their target price on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $63.00 price target on shares of Carrier Global in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus target price of $61.15.

Carrier Global Stock Up 0.7 %

Shares of NYSE CARR traded up $0.37 during mid-day trading on Friday, reaching $53.75. 1,138,783 shares of the company’s stock traded hands, compared to its average volume of 4,637,709. The stock has a market cap of $48.38 billion, a P/E ratio of 33.79, a PEG ratio of 2.29 and a beta of 1.39. The business has a 50-day simple moving average of $56.41 and a 200 day simple moving average of $54.75. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.87. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business’s revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, analysts expect that Carrier Global Co. will post 2.82 EPS for the current fiscal year.

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.