Cornerstone Advisors LLC Sells 1,900 Shares of Carrier Global Co. (NYSE:CARR)

Cornerstone Advisors LLC lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 6.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 27,700 shares of the company’s stock after selling 1,900 shares during the quarter. Cornerstone Advisors LLC’s holdings in Carrier Global were worth $1,747,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in CARR. Nordea Investment Management AB increased its position in Carrier Global by 5.5% in the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Carrier Global during the 4th quarter worth approximately $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after purchasing an additional 130,192 shares in the last quarter. GLOBALT Investments LLC GA purchased a new stake in shares of Carrier Global in the fourth quarter worth $859,000. Finally, United Services Automobile Association increased its stake in shares of Carrier Global by 9.2% in the fourth quarter. United Services Automobile Association now owns 26,758 shares of the company’s stock worth $1,537,000 after purchasing an additional 2,244 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 0.8 %

CARR opened at $77.11 on Tuesday. The firm has a 50-day simple moving average of $68.32 and a two-hundred day simple moving average of $63.43. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $77.48. The company has a market capitalization of $69.48 billion, a PE ratio of 53.92, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. 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 (NYSE:CARR) last announced its 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 firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. Analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CARR shares. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Royal Bank of Canada upped their target price 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. Oppenheimer upped their target price on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Bank of America upped their target price on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Barclays upped their target price on shares of 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, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $71.73.

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.