Bank of America Corp DE trimmed its position in shares of Carrier Global Co. (NYSE:CARR – Get Rating) by 32.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,999,876 shares of the company’s stock after selling 6,675,529 shares during the period. Bank of America Corp DE owned about 1.65% of Carrier Global worth $642,176,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Raymond James & Associates increased its stake in Carrier Global by 2.7% in the 1st quarter. Raymond James & Associates now owns 1,894,849 shares of the company’s stock worth $86,917,000 after purchasing an additional 49,919 shares during the period. Pinnacle Wealth Planning Services Inc. increased its stake in Carrier Global by 35.6% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 5,484 shares of the company’s stock worth $252,000 after purchasing an additional 1,440 shares during the period. Rockland Trust Co. increased its stake in shares of Carrier Global by 36.3% during the first quarter. Rockland Trust Co. now owns 5,996 shares of the company’s stock valued at $275,000 after buying an additional 1,596 shares during the period. Bank of New Hampshire purchased a new position in shares of Carrier Global during the first quarter valued at approximately $155,000. Finally, James Reed Financial Services Inc. purchased a new position in shares of Carrier Global during the fourth quarter valued at approximately $43,000. 85.58% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CARR has been the topic of several research analyst reports. Jefferies Financial Group reduced their target price on Carrier Global from $55.00 to $47.00 in a research note on Friday, July 15th. Credit Suisse Group set a $41.00 target price on Carrier Global in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Carrier Global from $49.00 to $43.00 in a research note on Monday, July 18th. Mizuho dropped their price target on Carrier Global from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. Finally, Wells Fargo & Company lifted their price target on Carrier Global from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, August 1st. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Carrier Global has a consensus rating of “Hold” and a consensus target price of $47.08.
Carrier Global Trading Down 4.9 %
Carrier Global (NYSE:CARR – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.15 billion. Carrier Global had a return on equity of 29.10% and a net margin of 13.50%. As a group, equities analysts predict 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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