Washington Trust Advisors Inc. Lowers Position in Carrier Global Co. (NYSE:CARR)

Washington Trust Advisors Inc. lessened its stake in Carrier Global Co. (NYSE:CARR) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,479 shares of the company’s stock after selling 1,152 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Carrier Global were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CARR. Covestor Ltd grew its position in Carrier Global by 121.2% in the first quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 303 shares in the last quarter. OFI Invest Asset Management bought a new stake in Carrier Global during the 3rd quarter valued at $28,000. Larson Financial Group LLC boosted its position in Carrier Global by 76.2% during the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after purchasing an additional 221 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Carrier Global during the 3rd quarter valued at $30,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Carrier Global by 205.1% in the third quarter. GHP Investment Advisors Inc. now owns 595 shares of the company’s stock worth $31,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 0.4 %

Shares of CARR traded up $0.23 during mid-day trading on Thursday, hitting $57.91. The company had a trading volume of 905,238 shares, compared to its average volume of 4,839,499. The stock has a market cap of $52.12 billion, a PE ratio of 36.51, a P/E/G ratio of 2.41 and a beta of 1.39. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The business’s 50-day simple moving average is $56.13 and its 200-day simple moving average is $54.54. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.87.

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 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 business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts forecast that Carrier Global Co. will post 2.82 earnings per share for the current year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CARR. Wells Fargo & Company reduced their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Citigroup raised their price target on Carrier Global from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Finally, Royal Bank of Canada dropped their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.29.

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.