Bay Colony Advisory Group Inc d b a Bay Colony Advisors Takes $205,000 Position in Carrier Global Co. (NYSE:CARR)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,575 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CARR. State Street Corp raised its stake in shares of Carrier Global by 0.6% in the first quarter. State Street Corp now owns 33,147,448 shares of the company’s stock valued at $1,516,493,000 after acquiring an additional 206,839 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Carrier Global by 712.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock valued at $799,843,000 after acquiring an additional 15,330,140 shares during the period. Geode Capital Management LLC raised its stake in shares of Carrier Global by 2.0% in the first quarter. Geode Capital Management LLC now owns 17,377,066 shares of the company’s stock valued at $793,207,000 after acquiring an additional 342,215 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Carrier Global by 16.0% in the second quarter. Nuveen Asset Management LLC now owns 15,917,718 shares of the company’s stock valued at $791,270,000 after acquiring an additional 2,197,116 shares during the period. Finally, Morgan Stanley raised its stake in shares of Carrier Global by 18.1% in the fourth quarter. Morgan Stanley now owns 9,414,230 shares of the company’s stock valued at $388,337,000 after acquiring an additional 1,443,747 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays increased 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 cut their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company cut their price target on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Finally, Citigroup upped their price target on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.77.

Carrier Global Stock Down 1.3 %

Shares of Carrier Global stock opened at $54.76 on Wednesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $60.87. The firm’s 50-day moving average is $56.44 and its two-hundred day moving average is $54.76. The stock has a market cap of $49.29 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.40 and a beta of 1.39.

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

Insiders Place Their Bets

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated 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 completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated 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 completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

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.