Kestra Private Wealth Services LLC reduced its holdings in Carrier Global Co. (NYSE:CARR – Get Rating) by 20.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,399 shares of the company’s stock after selling 2,870 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Carrier Global were worth $523,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Covestor Ltd grew its stake in shares of Carrier Global by 121.2% in the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 303 shares during the last quarter. Intelligent Financial Strategies purchased a new position in shares of Carrier Global in the fourth quarter worth approximately $27,000. San Luis Wealth Advisors LLC purchased a new position in shares of Carrier Global in the first quarter worth approximately $28,000. Capital Advisory Group Advisory Services LLC purchased a new position in shares of Carrier Global in the first quarter worth approximately $30,000. Finally, Bivin & Associates Inc. purchased a new position in shares of Carrier Global in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 85.58% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. KeyCorp lifted their target price on shares of Carrier Global from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 6th. Jefferies Financial Group reduced their target price on shares of Carrier Global from $55.00 to $47.00 in a research note on Friday, July 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Carrier Global from $49.00 to $43.00 in a research note on Monday, July 18th. Credit Suisse Group set a $41.00 price objective on shares of Carrier Global in a research note on Tuesday, July 19th. Finally, The Goldman Sachs Group dropped their target price on shares of Carrier Global from $53.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Hold” and a consensus target price of $47.08.
Carrier Global Stock Performance
Carrier Global (NYSE:CARR – Get Rating) last issued its earnings results on Thursday, July 28th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Carrier Global had a net margin of 13.50% and a return on equity of 29.10%. Analysts forecast that Carrier Global Co. will post 2.33 EPS for the current year.
About Carrier Global
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.
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