Plato Investment Management Ltd Sells 16,198 Shares of Carrier Global Co. (NYSE:CARR)

Plato Investment Management Ltd cut its holdings in Carrier Global Co. (NYSE:CARR) by 61.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,183 shares of the company’s stock after selling 16,198 shares during the period. Plato Investment Management Ltd’s holdings in Carrier Global were worth $642,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CARR. Aveo Capital Partners LLC increased its position in shares of Carrier Global by 3.9% during the fourth quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock valued at $310,000 after buying an additional 205 shares during the period. Jump Financial LLC purchased a new stake in Carrier Global in the 4th quarter worth approximately $241,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Carrier Global by 11.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 25,252 shares of the company’s stock valued at $1,451,000 after purchasing an additional 2,576 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Carrier Global by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 155,048 shares of the company’s stock valued at $8,908,000 after purchasing an additional 9,713 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its holdings in shares of Carrier Global by 6.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 46,397 shares of the company’s stock worth $2,665,000 after purchasing an additional 2,996 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their target price on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Royal Bank of Canada increased their price target on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Finally, Bank of America lifted their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.73.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $76.51 on Monday. The stock has a market capitalization of $68.94 billion, a price-to-earnings ratio of 53.50, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a fifty day moving average of $68.05 and a 200-day moving average of $63.28. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $77.48. 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 (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. Equities research analysts expect that Carrier Global Co. will post 2.84 EPS 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.