Point72 Asset Management L.P. Takes Position in Carrier Global Co. (NYSE:CARR)

Point72 Asset Management L.P. bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 926,047 shares of the company’s stock, valued at approximately $58,415,000. Point72 Asset Management L.P. owned approximately 0.10% of Carrier Global as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. Capital International Investors lifted its position in shares of Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. grew its holdings in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Capital Research Global Investors increased its stake in Carrier Global by 3.3% during the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after buying an additional 2,961,923 shares during the period. Finally, Bristol Gate Capital Partners Inc. acquired a new position in Carrier Global in the 4th quarter worth $92,651,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CARR has been the topic of a number of analyst reports. Oppenheimer lifted their target price on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Robert W. Baird reduced their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Bank of America increased their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $71.73.

Carrier Global Trading Down 0.9 %

Carrier Global stock opened at $79.67 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $81.64. The firm’s 50-day moving average is $69.97 and its 200-day moving average is $64.37. The company has a market cap of $71.92 billion, a P/E ratio of 55.71, a PEG ratio of 3.23 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, equities analysts expect 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.