Carrier Global Co. (NYSE:CARR) Shares Bought by Hemenway Trust Co LLC

Hemenway Trust Co LLC grew its position in shares of Carrier Global Co. (NYSE:CARR) by 88.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,815 shares of the company’s stock after purchasing an additional 95,645 shares during the period. Hemenway Trust Co LLC’s holdings in Carrier Global were worth $12,857,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of Carrier Global by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 234,850 shares of the company’s stock worth $14,814,000 after acquiring an additional 2,876 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Carrier Global by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after acquiring an additional 72,633 shares during the period. National Bank of Canada FI lifted its holdings in shares of Carrier Global by 14.5% during the 2nd quarter. National Bank of Canada FI now owns 390,777 shares of the company’s stock worth $24,183,000 after acquiring an additional 49,556 shares during the period. TD Asset Management Inc lifted its holdings in shares of Carrier Global by 2.9% during the 2nd quarter. TD Asset Management Inc now owns 336,365 shares of the company’s stock worth $21,218,000 after acquiring an additional 9,625 shares during the period. Finally, GPM Growth Investors Inc. purchased a new position in shares of Carrier Global during the 2nd quarter worth about $6,998,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Up 2.0 %

Shares of CARR stock traded up $1.40 during mid-day trading on Friday, reaching $70.44. 687,279 shares of the company were exchanged, compared to its average volume of 4,213,948. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $73.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company has a market capitalization of $63.47 billion, a P/E ratio of 48.27, a P/E/G ratio of 2.90 and a beta of 1.32. The business’s 50 day simple moving average is $66.85 and its 200 day simple moving average is $62.37.

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. Research analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on CARR. Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and raised their price target for the company from $55.00 to $72.00 in a report on Monday, July 29th. Oppenheimer raised 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. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Wells Fargo & Company raised their price target on shares of Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.38.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on 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 completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.95% of the stock is currently owned by corporate insiders.

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.