TradeLink Capital LLC Acquires New Shares in Carrier Global Co. (NYSE:CARR)

TradeLink Capital LLC bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,300 shares of the company’s stock, valued at approximately $334,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after acquiring an additional 43,002 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Carrier Global in the fourth quarter valued at approximately $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings 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 valued at $22,687,000 after buying an additional 130,192 shares during the last quarter. GLOBALT Investments LLC GA bought a new position in Carrier Global in the 4th quarter valued at approximately $859,000. Finally, United Services Automobile Association boosted its position in Carrier Global by 9.2% during the 4th quarter. United Services Automobile Association now owns 26,758 shares of the company’s stock worth $1,537,000 after buying an additional 2,244 shares during the period. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley began coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Bank of America raised Carrier Global from an “underperform” rating to a “neutral” rating and increased their price target for the company from $55.00 to $72.00 in a research note on Monday, July 29th. Robert W. Baird cut their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.17.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

Carrier Global Stock Performance

Shares of CARR stock opened at $75.38 on Friday. The firm has a 50 day moving average of $67.78 and a 200-day moving average of $63.01. The company has a market cap of $68.05 billion, a price-to-earnings ratio of 52.71, a price-to-earnings-growth ratio of 2.77 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 $75.51.

Carrier Global (NYSE:CARR) last posted its quarterly 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. 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 analysts’ expectations of $7.05 billion. During the same period last year, the company posted $0.79 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global 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.