Oregon Public Employees Retirement Fund Increases Stock Position in Carrier Global Co. (NYSE:CARR)

Oregon Public Employees Retirement Fund grew its stake in Carrier Global Co. (NYSE:CARR) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 71,998 shares of the company’s stock after acquiring an additional 610 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Carrier Global were worth $4,542,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after acquiring an additional 466,829 shares during the period. Capital Research Global Investors boosted its stake in shares of Carrier Global by 3.3% in the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after purchasing an additional 2,961,923 shares during the period. Capital International Investors grew its holdings in shares of Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Carrier Global by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after buying an additional 310,453 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Carrier Global in a research report on Friday, July 26th. Robert W. Baird cut their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Barclays boosted their price objective on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Finally, Bank of America raised shares of Carrier Global from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $55.00 to $72.00 in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.08.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $69.09 on Thursday. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $73.06. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $66.74 and a 200-day simple moving average of $62.33. The company has a market cap of $62.25 billion, a P/E ratio of 48.31, a P/E/G ratio of 2.90 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. Equities research analysts forecast that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Company 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.