Sapient Capital LLC Makes New Investment in Carrier Global Co. (NYSE:CARR)

Sapient Capital LLC acquired a new position in Carrier Global Co. (NYSE:CARR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,174 shares of the company’s stock, valued at approximately $355,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Modera Wealth Management LLC increased its position in Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after buying an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc raised its stake in Carrier Global by 9.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after buying an additional 476 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Carrier Global by 13.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 489,403 shares of the company’s stock valued at $28,209,000 after buying an additional 59,308 shares during the last quarter. Procyon Advisors LLC raised its stake in Carrier Global by 8.5% during the fourth quarter. Procyon Advisors LLC now owns 6,300 shares of the company’s stock valued at $362,000 after buying an additional 492 shares during the last quarter. Finally, Bensler LLC purchased a new position in Carrier Global during the fourth quarter valued at $2,399,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR opened at $56.84 on Monday. 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 company has a market capitalization of $51.16 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.40 and a beta of 1.39. Carrier Global Co. has a 12 month low of $40.28 and a 12 month high of $60.87. The business’s 50-day moving average is $56.45 and its 200 day moving average is $54.77.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts forecast that Carrier Global Co. will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Carrier Global

In other Carrier Global 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 stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Carrier Global 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 stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CARR shares. Royal Bank of Canada lowered their price objective 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. Barclays boosted their price target on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup boosted their price target on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company reduced their price objective on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Hold” and an average target price of $60.77.

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.