Clearstead Advisors LLC Lowers Holdings in Carrier Global Co. (NYSE:CARR)

Clearstead Advisors LLC lowered its stake in shares of Carrier Global Co. (NYSE:CARR – Get Rating) by 8.4% in the third quarter, Holdings Channel reports. The institutional investor owned 15,960 shares of the company’s stock after selling 1,463 shares during the period. Clearstead Advisors LLC’s holdings in Carrier Global were worth $568,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CARR. American Century Companies Inc. lifted its holdings in Carrier Global by 29.2% during the first quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock worth $750,000 after buying an additional 3,700 shares during the period. Panagora Asset Management Inc. lifted its holdings in Carrier Global by 40.1% during the first quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock worth $1,673,000 after buying an additional 10,445 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Carrier Global by 23.2% during the first quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock worth $343,000 after buying an additional 1,412 shares during the period. Candriam Luxembourg S.C.A. lifted its holdings in Carrier Global by 22.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock worth $2,992,000 after buying an additional 12,089 shares during the period. Finally, Baird Financial Group Inc. lifted its holdings in Carrier Global by 10.6% during the first quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock worth $36,078,000 after buying an additional 75,622 shares during the period. Hedge funds and other institutional investors own 85.21% of the company’s stock.

Carrier Global Price Performance

NYSE CARR opened at $45.75 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.64 and a quick ratio of 1.20. The stock’s fifty day moving average price is $44.90 and its 200 day moving average price is $41.84. Carrier Global Co. has a 1 year low of $33.10 and a 1 year high of $49.17. The company has a market cap of $38.20 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.79 and a beta of 1.33.

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. As a group, equities research analysts forecast that Carrier Global Co. will post 2.55 earnings per share for the current year.

Insiders Place Their Bets

In other Carrier Global news, VP Kyle Crockett sold 10,433 shares of the 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 sale was disclosed in a filing with the SEC, which is available through this link. In other Carrier Global news, VP Kyle Crockett sold 10,433 shares of the 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Nadia Villeneuve sold 20,538 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $45.45, for a total value of $933,452.10. Following the sale, the vice president now directly owns 48,900 shares in the company, valued at $2,222,505. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CARR shares. Deutsche Bank Aktiengesellschaft upped their target price on Carrier Global from $44.00 to $46.00 in a report on Monday, December 5th. Barclays increased their price objective on Carrier Global from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. The Goldman Sachs Group increased their price objective on Carrier Global from $48.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, December 15th. Argus increased their price objective on Carrier Global from $50.00 to $52.00 in a report on Tuesday, February 14th. Finally, Stephens reiterated an “overweight” rating and set a $55.00 price objective on shares of Carrier Global in a report on Wednesday, February 8th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $48.86.

Carrier Global Company 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.