Sage Mountain Advisors LLC Decreases Stake in Carrier Global Co. (NYSE:CARR)

Sage Mountain Advisors LLC cut its holdings in Carrier Global Co. (NYSE:CARR) by 10.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,973 shares of the company’s stock after selling 446 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Carrier Global were worth $271,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC boosted its stake in shares of Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after buying an additional 19,018 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Carrier Global by 12.3% in the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after buying an additional 11,032 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Carrier Global by 39.0% in the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after buying an additional 38,365 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of Carrier Global in the fourth quarter valued at approximately $2,213,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

CARR stock opened at $65.47 on Thursday. The stock has a 50-day moving average price of $66.55 and a two-hundred day moving average price of $72.18. Carrier Global Co. has a 12-month low of $53.33 and a 12-month high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market cap of $56.56 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.53 earnings per share. As a group, research analysts predict that Carrier Global Co. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of analyst reports. Barclays decreased their price target on Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Royal Bank of Canada reduced their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Monday, February 24th. Finally, Wells Fargo & Company reduced their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $82.53.

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.