Los Angeles Capital Management LLC Sells 154,402 Shares of Carrier Global Co. (NYSE:CARR)

Los Angeles Capital Management LLC cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 9.7% during the 2nd quarter, Holdings Channel reports. The fund owned 1,432,006 shares of the company’s stock after selling 154,402 shares during the period. Los Angeles Capital Management LLC’s holdings in Carrier Global were worth $90,331,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CARR. Savant Capital LLC lifted its holdings in shares of 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 in the last quarter. Founders Capital Management LLC lifted its stake in shares of Carrier Global by 3.4% in the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after buying an additional 175 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Carrier Global by 4.3% during the first quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after buying an additional 180 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Carrier Global by 2.3% during the first quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after acquiring an additional 182 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in shares of Carrier Global by 2.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock worth $517,000 after acquiring an additional 197 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CARR. Robert W. Baird cut their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Barclays lifted their target price on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. 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. Royal Bank of Canada raised their price objective on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $69.38.

Insiders Place Their Bets

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

NYSE CARR traded up $0.44 during trading hours on Friday, reaching $69.48. 4,182,643 shares of the company were exchanged, compared to its average volume of 4,234,270. The stock has a market capitalization of $62.60 billion, a P/E ratio of 48.62, a P/E/G ratio of 2.90 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $73.06. The business’s 50 day simple moving average is $66.98 and its 200-day simple moving average is $62.48.

Carrier Global (NYSE:CARR) last released 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 during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. On average, equities research analysts expect that Carrier Global Co. will post 2.84 earnings per share 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.