HBK Sorce Advisory LLC Sells 733 Shares of Carrier Global Co. (NYSE:CARR)

HBK Sorce Advisory LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,316 shares of the company’s stock after selling 733 shares during the period. HBK Sorce Advisory LLC’s holdings in Carrier Global were worth $478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Carrier Global by 712.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock worth $799,843,000 after purchasing an additional 15,330,140 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Carrier Global by 83,676.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock worth $346,925,000 after purchasing an additional 8,400,264 shares during the last quarter. Norges Bank purchased a new position in Carrier Global during the fourth quarter worth about $297,581,000. C WorldWide Group Holding A S purchased a new position in Carrier Global in the third quarter valued at about $260,761,000. Finally, Victory Capital Management Inc. boosted its stake in Carrier Global by 1,140.8% in the fourth quarter. Victory Capital Management Inc. now owns 4,138,117 shares of the company’s stock valued at $170,697,000 after acquiring an additional 3,804,624 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

Carrier Global Stock Performance

NYSE CARR opened at $56.88 on Thursday. The company’s 50 day moving average is $56.42 and its 200-day moving average is $54.72. Carrier Global Co. has a 12-month low of $40.28 and a 12-month high of $60.87. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The firm has a market cap of $51.20 billion, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 2.44 and a beta of 1.39.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, topping 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 net margin of 6.10% and a return on equity of 27.19%. Carrier Global’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 EPS. Sell-side analysts predict that Carrier Global Co. will post 2.82 earnings per share for the current 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.