California Public Employees Retirement System lessened its holdings in Carrier Global Co. (NYSE:CARR) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,955,532 shares of the company’s stock after selling 38,230 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Carrier Global worth $95,039,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Sierra Capital LLC bought a new stake in Carrier Global during the first quarter worth about $26,000. Financial Insights Inc. bought a new stake in Carrier Global during the second quarter worth about $28,000. Elmwood Wealth Management Inc. bought a new stake in Carrier Global during the first quarter worth about $31,000. Heritage Wealth Advisors grew its stake in Carrier Global by 2,800.0% during the second quarter. Heritage Wealth Advisors now owns 725 shares of the company’s stock worth $35,000 after buying an additional 700 shares during the last quarter. Finally, Ameritas Investment Company LLC bought a new stake in Carrier Global during the first quarter worth about $44,000. 83.70% of the stock is owned by hedge funds and other institutional investors.
In other Carrier Global news, VP Ajay Agrawal sold 18,969 shares of the stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $55.13, for a total value of $1,045,760.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David Appel sold 34,259 shares of the stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $57.38, for a total transaction of $1,965,781.42. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 29th. The company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. Carrier Global had a net margin of 12.65% and a return on equity of 28.73%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $4.95 billion. Sell-side analysts expect that Carrier Global Co. will post 2.21 EPS for the current fiscal year.
Several analysts have weighed in on the stock. Robert W. Baird assumed coverage on shares of Carrier Global in a research note on Wednesday, July 21st. They set a “neutral” rating and a $55.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Carrier Global from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Morgan Stanley increased their price target on shares of Carrier Global from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. Wells Fargo & Company initiated coverage on shares of Carrier Global in a research note on Thursday, October 7th. They set an “equal weight” rating and a $51.00 price target on the stock. Finally, Zacks Investment Research cut shares of Carrier Global from a “buy” rating to a “hold” rating and set a $55.00 price target on the stock. in a research note on Tuesday, October 5th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $56.19.
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 and cooling needs of residential and commercial customers.
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