Brown Brothers Harriman & Co. Sells 2,400 Shares of Carrier Global Co. (NYSE:CARR)

Brown Brothers Harriman & Co. cut its position in Carrier Global Co. (NYSE:CARR) by 4.2% in the second quarter, HoldingsChannel.com reports. The firm owned 54,727 shares of the company’s stock after selling 2,400 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Carrier Global were worth $3,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Savant Capital LLC boosted its stake in Carrier Global by 0.5% in the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after purchasing an additional 162 shares during the period. Founders Capital Management LLC grew its stake in Carrier Global by 3.4% during the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after acquiring an additional 175 shares in the last quarter. Manchester Capital Management LLC increased its holdings in Carrier Global by 4.3% in the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after acquiring an additional 180 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after purchasing an additional 182 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in shares of Carrier Global by 2.3% during the 1st quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock valued at $517,000 after purchasing an additional 197 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CARR shares. Royal Bank of Canada lifted their target price on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Morgan Stanley initiated coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Wells Fargo & Company increased their target price on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $74.00 in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $71.73.

Insider Activity at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.95% of the stock is owned by company insiders.

Carrier Global Trading Up 0.8 %

Shares of CARR opened at $77.11 on Tuesday. The company’s fifty day simple moving average is $68.32 and its 200-day simple moving average is $63.43. The company has a market cap of $69.48 billion, a P/E ratio of 53.92, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $77.48.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts expect that Carrier Global Co. will post 2.84 EPS 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.