Sapient Capital LLC Buys Shares of 6,174 Carrier Global Co. (NYSE:CARR)

Sapient Capital LLC bought a new stake in Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,174 shares of the company’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after purchasing an additional 221 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Carrier Global during the third quarter worth $28,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Carrier Global during the third quarter worth $30,000. Covestor Ltd increased its position in shares of Carrier Global by 121.2% during the first quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 303 shares during the period. Finally, Planned Solutions Inc. purchased a new stake in shares of Carrier Global during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity

In related news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $56.84 on Monday. The company has a 50-day simple moving average of $56.45 and a 200-day simple moving average of $54.77. Carrier Global Co. has a one year low of $40.28 and a one year high of $60.87. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. The stock has a market capitalization of $51.16 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.40 and a beta of 1.39.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. On average, analysts predict that Carrier Global Co. will post 2.82 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup upped their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company cut their price objective on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Royal Bank of Canada lowered their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Barclays boosted their target price on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Carrier Global has a consensus rating of “Hold” and an average target price of $60.77.

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.