Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in Carrier Global Co. (NYSE:CARR – Get Rating) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,960 shares of the company’s stock after selling 445 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Carrier Global were worth $426,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of CARR. Landmark Wealth Management LLC acquired a new stake in shares of Carrier Global during the first quarter worth approximately $43,000. Intelligent Financial Strategies acquired a new position in Carrier Global in the fourth quarter worth $27,000. San Luis Wealth Advisors LLC acquired a new position in Carrier Global in the first quarter worth $28,000. Covestor Ltd boosted its holdings in Carrier Global by 121.2% in the first quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 303 shares during the period. Finally, Bivin & Associates Inc. acquired a new position in Carrier Global in the fourth quarter worth $35,000. Institutional investors and hedge funds own 85.58% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, August 1st. Mizuho cut their target price on Carrier Global from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, July 18th. Barclays cut their target price on Carrier Global from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Credit Suisse Group set a $41.00 target price on Carrier Global in a research note on Tuesday, July 19th. Finally, Jefferies Financial Group cut their target price on Carrier Global from $55.00 to $47.00 in a research note on Friday, July 15th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.08.
Carrier Global Price Performance
Carrier Global (NYSE:CARR – Get Rating) last released its earnings results on Thursday, July 28th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.15 billion. Carrier Global had a return on equity of 29.10% and a net margin of 13.50%. Research analysts expect that Carrier Global Co. will post 2.33 earnings per share for the current fiscal 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, cooling, and ventilation needs of residential and commercial customers.
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