Carrier Global Co. (NYSE:CARR) Position Trimmed by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in Carrier Global Co. (NYSE:CARR) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,055,152 shares of the company’s stock after selling 30,600 shares during the quarter. Primecap Management Co. CA owned about 0.58% of Carrier Global worth $245,680,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital International Investors lifted its holdings in Carrier Global by 50.3% in the 1st quarter. Capital International Investors now owns 47,362,708 shares of the company’s stock worth $1,999,679,000 after purchasing an additional 15,846,189 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Carrier Global by 221.7% in the 1st quarter. Nuveen Asset Management LLC now owns 11,436,481 shares of the company’s stock worth $482,848,000 after purchasing an additional 7,881,210 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Carrier Global by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,478,619 shares of the company’s stock worth $273,535,000 after purchasing an additional 470,458 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Carrier Global by 2.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,660,153 shares of the company’s stock worth $275,083,000 after purchasing an additional 121,282 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Carrier Global by 9,982.3% in the 1st quarter. Nordea Investment Management AB now owns 5,363,984 shares of the company’s stock worth $226,467,000 after purchasing an additional 5,310,782 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

Shares of CARR stock opened at $55.07 on Friday. The stock’s fifty day moving average is $54.61 and its 200-day moving average is $47.43. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.23 and a current ratio of 1.56. The stock has a market capitalization of $47.78 billion, a PE ratio of 19.53, a PEG ratio of 1.75 and a beta of 0.79. Carrier Global Co. has a 52 week low of $28.79 and a 52 week high of $58.89.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 29th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $4.95 billion. Carrier Global had a return on equity of 28.73% and a net margin of 12.65%. As a group, analysts forecast that Carrier Global Co. will post 2.22 earnings per share for the current fiscal year.

A number of research analysts have recently commented on CARR shares. UBS Group lowered Carrier Global from a “buy” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $60.00 in a report on Thursday, August 12th. Credit Suisse Group upped their price target on Carrier Global from $46.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 30th. Wolfe Research cut Carrier Global from an “outperform” rating to a “peer perform” rating and boosted their price objective for the company from $58.00 to $61.00 in a research report on Tuesday, September 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Carrier Global from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 30th. Finally, Barclays boosted their price objective on Carrier Global from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, July 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Buy” and a consensus price target of $53.24.

In other Carrier Global news, VP Ajay Agrawal sold 18,969 shares of the stock in a transaction dated Thursday, August 19th. The stock was sold at an average price of $55.13, for a total value of $1,045,760.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David Appel sold 34,259 shares of the stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $57.38, for a total value of $1,965,781.42. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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