Baird Financial Group Inc. Increases Holdings in Carrier Global Co. (NYSE:CARR)

Baird Financial Group Inc. boosted its stake in shares of Carrier Global Co. (NYSE:CARR – Get Rating) by 4.6% in the third quarter, Holdings Channel reports. The institutional investor owned 1,123,195 shares of the company’s stock after acquiring an additional 49,215 shares during the period. Baird Financial Group Inc.’s holdings in Carrier Global were worth $39,941,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CARR. Renaissance Technologies LLC lifted its holdings in Carrier Global by 126.0% during the first quarter. Renaissance Technologies LLC now owns 5,306,931 shares of the company’s stock worth $243,429,000 after buying an additional 2,958,400 shares during the period. Fisher Asset Management LLC lifted its holdings in Carrier Global by 129.8% during the third quarter. Fisher Asset Management LLC now owns 4,882,359 shares of the company’s stock worth $173,617,000 after buying an additional 2,757,618 shares during the period. Invesco Ltd. lifted its holdings in Carrier Global by 59.5% during the first quarter. Invesco Ltd. now owns 4,948,588 shares of the company’s stock worth $226,992,000 after buying an additional 1,845,419 shares during the period. Great West Life Assurance Co. Can purchased a new stake in Carrier Global during the third quarter worth $42,985,000. Finally, Scout Investments Inc. lifted its holdings in Carrier Global by 185.0% during the third quarter. Scout Investments Inc. now owns 1,143,791 shares of the company’s stock worth $40,673,000 after buying an additional 742,446 shares during the period. Hedge funds and other institutional investors own 85.21% of the company’s stock.

Insiders Place Their Bets

In other news, VP Kyle Crockett sold 10,433 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $45.85, for a total transaction of $478,353.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Nadia Villeneuve sold 20,538 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $45.45, for a total transaction of $933,452.10. Following the sale, the vice president now directly owns 48,900 shares in the company, valued at approximately $2,222,505. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kyle Crockett sold 10,433 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $45.85, for a total value of $478,353.05. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Carrier Global Price Performance

Shares of CARR opened at $45.75 on Wednesday. The business’s 50-day moving average is $44.90 and its two-hundred day moving average is $41.84. The company has a market capitalization of $38.20 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.79 and a beta of 1.33. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.20 and a current ratio of 1.64. Carrier Global Co. has a fifty-two week low of $33.10 and a fifty-two week high of $49.17.

Carrier Global (NYSE:CARR – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.07 billion. Carrier Global had a return on equity of 26.86% and a net margin of 17.31%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. Research analysts predict that Carrier Global Co. will post 2.55 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CARR. The Goldman Sachs Group upped their target price on Carrier Global from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, December 15th. Citigroup increased their price objective on Carrier Global from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, February 9th. Stephens reiterated an “overweight” rating and set a $55.00 price objective on shares of Carrier Global in a report on Wednesday, February 8th. Wells Fargo & Company upped their target price on Carrier Global from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, January 19th. Finally, Morgan Stanley upped their target price on Carrier Global from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.86.

Carrier Global Profile

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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.