Nisa Investment Advisors LLC Decreases Stake in Carrier Global Co. (NYSE:CARR)

Nisa Investment Advisors LLC lessened its stake in Carrier Global Co. (NYSE:CARR) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 237,107 shares of the company’s stock after selling 15,269 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Carrier Global were worth $13,622,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CARR. American Century Companies Inc. boosted its stake in shares of Carrier Global by 29.2% in the 1st quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock valued at $750,000 after buying an additional 3,700 shares during the period. Panagora Asset Management Inc. lifted its stake 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 purchasing an additional 10,445 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake 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 purchasing an additional 1,412 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its stake 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 purchasing an additional 12,089 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake 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 purchasing an additional 75,622 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity

In other news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays boosted their target price on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company decreased their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada decreased their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Citigroup boosted their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.86.

Carrier Global Trading Up 2.5 %

NYSE:CARR opened at $57.86 on Tuesday. The firm has a market cap of $52.08 billion, a P/E ratio of 36.62, a PEG ratio of 2.38 and a beta of 1.39. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. The stock’s 50 day simple moving average is $56.34 and its 200-day simple moving average is $54.67. Carrier Global Co. has a 12-month low of $40.28 and a 12-month high of $60.87.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. Equities analysts anticipate that Carrier Global Co. will post 2.82 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 in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.