EP Wealth Advisors LLC Takes Position in Carrier Global Co. (NYSE:CARR)

EP Wealth Advisors LLC purchased a new stake in Carrier Global Co. (NYSE:CARR) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 9,509 shares of the company’s stock, valued at approximately $357,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Price T Rowe Associates Inc. MD lifted its stake in Carrier Global by 712.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock valued at $799,843,000 after buying an additional 15,330,140 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Carrier Global by 83,676.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock valued at $346,925,000 after buying an additional 8,400,264 shares in the last quarter. Norges Bank purchased a new position in Carrier Global in the 4th quarter valued at about $297,581,000. Balyasny Asset Management L.P. lifted its stake in Carrier Global by 5,728.5% in the 1st quarter. Balyasny Asset Management L.P. now owns 6,659,207 shares of the company’s stock valued at $304,659,000 after buying an additional 6,544,955 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Carrier Global by 109.6% in the 1st quarter. Fisher Asset Management LLC now owns 10,892,166 shares of the company’s stock valued at $498,317,000 after buying an additional 5,694,510 shares in the last quarter. 91.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Mizuho lowered shares of Carrier Global from a “buy” rating to a “neutral” rating and decreased their price target for the company from $63.00 to $61.00 in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Carrier Global from $45.00 to $50.00 in a research note on Monday, July 10th. Argus raised their target price on shares of Carrier Global from $52.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. TD Cowen raised their target price on shares of Carrier Global from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. Finally, Barclays raised their target price on shares of Carrier Global from $54.00 to $63.00 in a research note on Friday, July 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.41.

Insider Activity at Carrier Global

In other Carrier Global news, VP Kyle Crockett sold 6,817 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $59.22, for a total value of $403,702.74. Following the completion of the transaction, the vice president now owns 42 shares in the company, valued at $2,487.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Carrier Global news, insider Jurgen Timperman sold 164,450 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $9,743,662.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kyle Crockett sold 6,817 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $59.22, for a total transaction of $403,702.74. Following the completion of the transaction, the vice president now owns 42 shares of the company’s stock, valued at approximately $2,487.24. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Carrier Global Stock Down 0.5 %

Carrier Global stock opened at $54.46 on Monday. Carrier Global Co. has a fifty-two week low of $33.10 and a fifty-two week high of $60.04. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.63. The firm has a 50 day moving average price of $55.75 and a 200 day moving average price of $48.53. The company has a market capitalization of $45.62 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 27th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.03. Carrier Global had a net margin of 9.87% and a return on equity of 25.42%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter last year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts expect that Carrier Global Co. will post 2.62 earnings per share for the current year.

About Carrier Global

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.