Victory Capital Management Inc. Purchases 72,633 Shares of Carrier Global Co. (NYSE:CARR)

Victory Capital Management Inc. lifted its position in Carrier Global Co. (NYSE:CARR) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,438,959 shares of the company’s stock after acquiring an additional 72,633 shares during the quarter. Victory Capital Management Inc. owned 0.49% of Carrier Global worth $280,010,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CARR. Nordea Investment Management AB increased its stake in Carrier Global by 5.5% in the 1st 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 period. Nomura Holdings Inc. purchased a new position in Carrier Global in the 4th quarter worth about $973,000. Versor Investments LP purchased a new position in Carrier Global in the 4th quarter worth about $1,132,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Carrier Global by 50.1% in the 1st 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 period. Finally, GLOBALT Investments LLC GA purchased a new position in Carrier Global in the 4th quarter worth about $859,000. Institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Barclays raised their target price on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday. Finally, Bank of America raised shares of Carrier Global from an “underperform” rating to a “neutral” rating and raised their target price for the company from $55.00 to $72.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.38.

Carrier Global Stock Up 0.5 %

Shares of Carrier Global stock opened at $69.36 on Friday. The firm’s 50 day moving average price is $66.85 and its 200-day moving average price is $62.37. The company has a market cap of $62.49 billion, a P/E ratio of 48.27, a PEG ratio of 2.90 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $73.06.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. On average, sell-side analysts predict that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s 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 sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 6.95% of the company’s stock.

Carrier Global Company 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.