Highland Capital Management LLC Lowers Stock Position in Carrier Global Co. (NYSE:CARR)

Highland Capital Management LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 236,365 shares of the company’s stock after selling 9,524 shares during the quarter. Carrier Global makes up 0.8% of Highland Capital Management LLC’s holdings, making the stock its 25th largest position. Highland Capital Management LLC’s holdings in Carrier Global were worth $13,579,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Carrier Global by 3.9% during the second quarter. BlackRock Inc. now owns 60,825,164 shares of the company’s stock worth $3,023,619,000 after purchasing an additional 2,282,320 shares during the period. State Street Corp lifted its holdings in Carrier Global by 1.2% in the second quarter. State Street Corp now owns 33,534,416 shares of the company’s stock valued at $1,673,138,000 after acquiring an additional 386,968 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Carrier Global by 712.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock valued at $799,843,000 after acquiring an additional 15,330,140 shares during the period. Geode Capital Management LLC lifted its holdings in Carrier Global by 2.0% in the first quarter. Geode Capital Management LLC now owns 17,377,066 shares of the company’s stock valued at $793,207,000 after acquiring an additional 342,215 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in Carrier Global by 16.0% in the second quarter. Nuveen Asset Management LLC now owns 15,917,718 shares of the company’s stock valued at $791,270,000 after acquiring an additional 2,197,116 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CARR. Citigroup raised their target price on Carrier Global from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, December 11th. Royal Bank of Canada reduced their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, 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 report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.29.

Carrier Global Stock Performance

Carrier Global stock opened at $57.68 on Thursday. The stock’s 50 day moving average price is $56.13 and its 200 day moving average price is $54.54. The firm has a market capitalization of $51.92 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 2.41 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. Carrier Global Co. has a one year low of $40.28 and a one year high of $60.87.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the company posted $0.40 EPS. Carrier Global’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts expect that Carrier Global Co. will post 2.82 EPS for the current fiscal year.

Insider Buying and Selling at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

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.