AMJ Financial Wealth Management Invests $323,000 in Carrier Global Co. (NYSE:CARR)

AMJ Financial Wealth Management bought a new stake in Carrier Global Co. (NYSE:CARR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,127 shares of the company’s stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Olistico Wealth LLC purchased a new position in shares of Carrier Global during the second quarter valued at approximately $25,000. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global during the second quarter worth $32,000. Hantz Financial Services Inc. purchased a new stake in shares of Carrier Global in the second quarter valued at $35,000. Family Firm Inc. acquired a new position in Carrier Global in the second quarter valued at $37,000. Finally, Register Financial Advisors LLC purchased a new position in Carrier Global during the first quarter worth about $34,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CARR shares. Robert W. Baird dropped their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Wells Fargo & Company boosted their price objective on shares of Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday. Royal Bank of Canada increased their target price on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Oppenheimer boosted their price target on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Finally, Barclays raised their price objective on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.17.

Carrier Global Stock Performance

NYSE:CARR traded up $0.77 during trading hours on Tuesday, reaching $71.50. 114,411 shares of the stock were exchanged, compared to its average volume of 4,202,990. The stock has a market capitalization of $64.55 billion, a P/E ratio of 49.46, a P/E/G ratio of 2.77 and a beta of 1.32. The firm has a 50 day simple moving average of $67.16 and a 200-day simple moving average of $62.72. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $73.06.

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

Insider Buying and Selling

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.95% of the company’s stock.

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.