Geneos Wealth Management Inc. Lowers Stock Position in Carrier Global Co. (NYSE:CARR)

Geneos Wealth Management Inc. lowered its position in Carrier Global Co. (NYSE:CARR) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,450 shares of the company’s stock after selling 231 shares during the period. Geneos Wealth Management Inc.’s holdings in Carrier Global were worth $141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Impax Asset Management Group plc increased its holdings in Carrier Global by 47.8% during the fourth quarter. Impax Asset Management Group plc now owns 3,306,877 shares of the company’s stock worth $189,980,000 after buying an additional 1,070,036 shares during the last quarter. Segment Wealth Management LLC increased its holdings in Carrier Global by 3.4% during the fourth quarter. Segment Wealth Management LLC now owns 172,984 shares of the company’s stock worth $9,938,000 after buying an additional 5,645 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Carrier Global by 84.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 17,249 shares of the company’s stock worth $991,000 after buying an additional 7,889 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in Carrier Global by 52.8% during the fourth quarter. Bleakley Financial Group LLC now owns 45,249 shares of the company’s stock worth $2,600,000 after buying an additional 15,645 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in Carrier Global by 5.1% during the fourth quarter. Meeder Advisory Services Inc. now owns 15,322 shares of the company’s stock worth $880,000 after buying an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Carrier Global

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction that occurred on 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 in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

Carrier Global Price Performance

CARR stock opened at $55.46 on Tuesday. The firm has a 50 day moving average of $56.43 and a 200-day moving average of $54.76. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. Carrier Global Co. has a 12 month low of $40.28 and a 12 month high of $60.87. The firm has a market capitalization of $49.92 billion, a P/E ratio of 35.10, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $5.22 billion. During the same period in the previous year, the business posted $0.40 earnings per share. Carrier Global’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts predict that Carrier Global Co. will post 2.82 earnings per share for the current fiscal 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.