Pitcairn Co. Reduces Position in Carrier Global Co. (NYSE:CARR)

Pitcairn Co. trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 2.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,595 shares of the company’s stock after selling 403 shares during the period. Pitcairn Co.’s holdings in Carrier Global were worth $996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. grew its stake in Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after purchasing an additional 160 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Carrier Global in the 4th quarter worth $31,000. Meeder Asset Management Inc. grew its position in shares of Carrier Global by 236.1% during the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after buying an additional 340 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Carrier Global during the fourth quarter valued at $49,000. Finally, Centricity Wealth Management LLC bought a new stake in shares of Carrier Global in the fourth quarter valued at about $49,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

CARR opened at $57.06 on Friday. The firm’s 50-day moving average price is $65.27 and its 200-day moving average price is $71.36. The company has a market cap of $49.30 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 52-week low of $53.33 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter last year, the business posted $0.53 EPS. As a group, equities analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

CARR has been the topic of a number of research reports. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, February 24th. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Barclays dropped their target price on Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Royal Bank of Canada reduced their price target on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Finally, Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.27.

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.