Los Angeles Capital Management LLC Has $90.33 Million Position in Carrier Global Co. (NYSE:CARR)

Los Angeles Capital Management LLC lessened its position in Carrier Global Co. (NYSE:CARR) by 9.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,432,006 shares of the company’s stock after selling 154,402 shares during the period. Los Angeles Capital Management LLC owned about 0.16% of Carrier Global worth $90,331,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Aveo Capital Partners LLC increased its holdings in shares of Carrier Global by 3.9% in the fourth quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock valued at $310,000 after purchasing an additional 205 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Carrier Global by 5.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 5,759 shares of the company’s stock valued at $331,000 after acquiring an additional 307 shares during the period. Lincoln National Corp lifted its position in Carrier Global by 2.1% during the fourth quarter. Lincoln National Corp now owns 13,741 shares of the company’s stock worth $789,000 after acquiring an additional 280 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Carrier Global by 66.0% during the fourth quarter. Apollon Wealth Management LLC now owns 18,450 shares of the company’s stock worth $1,060,000 after acquiring an additional 7,333 shares during the period. Finally, Wealthspire Advisors LLC grew its position in shares of Carrier Global by 4.4% in the fourth quarter. Wealthspire Advisors LLC now owns 9,129 shares of the company’s stock valued at $524,000 after purchasing an additional 387 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carrier Global

In related 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CARR has been the subject of several research reports. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Morgan Stanley initiated coverage on shares of Carrier Global in a research note on Friday. They set an “equal weight” rating and a $75.00 price objective on the stock. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Oppenheimer increased their price target on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada raised their price objective on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.38.

Carrier Global Trading Up 0.6 %

Shares of CARR stock traded up $0.44 during trading hours on Friday, hitting $69.48. 4,182,643 shares of the company’s stock traded hands, compared to its average volume of 4,234,270. 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 12 month low of $45.68 and a 12 month high of $73.06. The stock has a market cap of $62.60 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.90 and a beta of 1.32. The stock’s 50 day simple moving average is $66.98 and its 200 day simple moving average is $62.48.

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