Pitcairn Co. Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Pitcairn Co. decreased its holdings in Carrier Global Co. (NYSE:CARR) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,595 shares of the company’s stock after selling 403 shares during the quarter. Pitcairn Co.’s holdings in Carrier Global were worth $996,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. BOK Financial Private Wealth Inc. raised its stake in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after buying an additional 160 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new stake in Carrier Global in the 4th quarter worth approximately $31,000. Meeder Asset Management Inc. raised its stake in Carrier Global by 236.1% during the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after acquiring an additional 340 shares during the period. Centricity Wealth Management LLC purchased a new position in Carrier Global during the fourth quarter valued at approximately $49,000. Finally, Roxbury Financial LLC bought a new position in shares of Carrier Global in the fourth quarter worth approximately $49,000. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CARR. Citigroup lowered their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. raised Carrier Global from a “neutral” rating to an “overweight” rating and raised their price target for the company from $77.00 to $78.00 in a report on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Monday, February 24th. Finally, The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.27.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $57.06 on Friday. The firm has a fifty day simple moving average of $65.27 and a two-hundred day simple moving average of $71.36. Carrier Global Co. has a 52 week low of $53.33 and a 52 week high of $83.32. 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 stock has a market capitalization of $49.30 billion, a P/E ratio of 9.09, a PEG ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share 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 quarter in the previous year, the company earned $0.53 EPS. On average, analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current fiscal 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.