Prio Wealth Limited Partnership Lowers Holdings in Carrier Global Co. (NYSE:CARR)

Prio Wealth Limited Partnership lowered its holdings in Carrier Global Co. (NYSE:CARR) by 0.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,244 shares of the company’s stock after selling 162 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Carrier Global were worth $2,980,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CARR. Olistico Wealth LLC acquired a new position in Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. boosted its holdings in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares during the period. EdgeRock Capital LLC purchased a new position in Carrier Global in the 2nd quarter worth approximately $32,000. Register Financial Advisors LLC purchased a new position in Carrier Global in the 1st quarter worth approximately $34,000. Finally, Rise Advisors LLC raised its position in shares of Carrier Global by 3,668.8% in the 1st quarter. Rise Advisors LLC now owns 603 shares of the company’s stock valued at $35,000 after purchasing an additional 587 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 1.4 %

Shares of Carrier Global stock opened at $79.33 on Wednesday. The stock has a 50-day moving average price of $71.23 and a 200 day moving average price of $65.16. The company has a market cap of $71.48 billion, a P/E ratio of 55.48, a P/E/G ratio of 3.23 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $81.64.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the prior year, the business earned $0.79 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts expect that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CARR shares. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Royal Bank of Canada increased their price target on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Bank of America raised their target price on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Finally, Wells Fargo & Company raised their target price on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.73.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.95% of the company’s stock.

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.