Sterling Financial Planning Inc. Acquires New Stake in Carrier Global Co. (NYSE:CARR)

Sterling Financial Planning Inc. purchased a new stake in Carrier Global Co. (NYSE:CARR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,000 shares of the company’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. Beese Fulmer Investment Management Inc. grew its stake in Carrier Global by 0.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock valued at $1,119,000 after buying an additional 181 shares during the last quarter. Graypoint LLC grew its stake in Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after buying an additional 184 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its stake in Carrier Global by 16.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock valued at $80,000 after buying an additional 200 shares during the last quarter. Operose Advisors LLC boosted its holdings in Carrier Global by 44.4% in the 3rd quarter. Operose Advisors LLC now owns 650 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Finally, Boston Financial Mangement LLC boosted its holdings in Carrier Global by 2.2% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock valued at $519,000 after purchasing an additional 201 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CARR shares. Oppenheimer reissued an “outperform” rating and issued a $63.00 price objective on shares of Carrier Global in a report on Thursday. Wells Fargo & Company lowered their price objective 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. Citigroup upped their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays upped their price objective 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. Finally, Royal Bank of Canada lowered their price objective 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. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Hold” and an average price target of $61.15.

Insider Activity at Carrier Global

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

Carrier Global Stock Down 1.6 %

NYSE CARR traded down $0.87 on Thursday, hitting $53.38. 3,050,494 shares of the company were exchanged, compared to its average volume of 4,685,329. The company has a market cap of $48.05 billion, a PE ratio of 34.34, a PEG ratio of 2.31 and a beta of 1.39. Carrier Global Co. has a 12 month low of $40.28 and a 12 month high of $60.87. The stock has a fifty day moving average of $56.45 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 (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share 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 firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts forecast that Carrier Global Co. will post 2.82 earnings per share for the current year.

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.