Parallel Advisors LLC Boosts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Parallel Advisors LLC grew its holdings in Carrier Global Co. (NYSE:CARR) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,050 shares of the company’s stock after acquiring an additional 183 shares during the period. Parallel Advisors LLC’s holdings in Carrier Global were worth $1,369,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. RFG Advisory LLC raised its stake in shares of Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after acquiring an additional 1,904 shares during the period. Princeton Global Asset Management LLC raised its stake in shares of Carrier Global by 1,156.1% in the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after acquiring an additional 19,018 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after acquiring an additional 11,032 shares during the period. Cerity Partners LLC raised its stake in shares of Carrier Global by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after acquiring an additional 38,365 shares during the period. Finally, Miracle Mile Advisors LLC purchased a new position in shares of Carrier Global in the 4th quarter valued at $2,213,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR stock opened at $67.25 on Wednesday. The firm has a market cap of $58.10 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.01 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global Co. has a 1-year low of $53.33 and a 1-year high of $83.32. The firm has a fifty day moving average of $66.38 and a two-hundred day moving average of $72.04.

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, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the prior year, the company posted $0.53 EPS. As a group, research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Carrier Global from a “neutral” rating to an “overweight” rating and raised their target price for the company from $77.00 to $78.00 in a research note on Wednesday, March 5th. The Goldman Sachs Group began 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. Royal Bank of Canada lowered their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Citigroup lowered their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Northcoast Research began coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.53.

About Carrier Global

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.