Carrier Global Co. (NYSE:CARR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in Carrier Global Co. (NYSE:CARR) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,024,405 shares of the company’s stock after selling 35,625 shares during the period. PNC Financial Services Group Inc. owned approximately 0.11% of Carrier Global worth $69,926,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CARR. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global in the third quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Carrier Global in the 4th quarter worth approximately $31,000. Coastline Trust Co acquired a new stake in Carrier Global in the third quarter valued at approximately $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global during the third quarter valued at approximately $44,000. Finally, Roxbury Financial LLC purchased a new stake in shares of Carrier Global during the fourth quarter valued at approximately $49,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $67.36 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $66.68 and its two-hundred day moving average price is $72.27. Carrier Global Co. has a 52-week low of $53.33 and a 52-week high of $83.32. The stock has a market capitalization of $58.20 billion, a P/E ratio of 10.73, a P/E/G ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the prior year, the business posted $0.53 EPS. As a group, sell-side analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CARR. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Citigroup lowered their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company dropped their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target for the company in a report on Friday, February 14th. Finally, Northcoast Research started coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $82.53.

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.