Cerity Partners LLC Increases Stock Position in Carrier Global Co. (NYSE:CARR)

Cerity Partners LLC lifted its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 44.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,834 shares of the company's stock after acquiring an additional 23,346 shares during the quarter. Cerity Partners LLC's holdings in Carrier Global were worth $4,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc lifted its stake in Carrier Global by 47.8% during the fourth quarter. Impax Asset Management Group plc now owns 3,306,877 shares of the company's stock valued at $189,980,000 after purchasing an additional 1,070,036 shares during the last quarter. Segment Wealth Management LLC lifted its position in shares of Carrier Global by 3.4% during the 4th quarter. Segment Wealth Management LLC now owns 172,984 shares of the company's stock valued at $9,938,000 after acquiring an additional 5,645 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Carrier Global by 84.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 17,249 shares of the company's stock worth $991,000 after acquiring an additional 7,889 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Carrier Global by 52.8% during the 4th quarter. Bleakley Financial Group LLC now owns 45,249 shares of the company's stock worth $2,600,000 after acquiring an additional 15,645 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its position in shares of Carrier Global by 5.1% during the fourth quarter. Meeder Advisory Services Inc. now owns 15,322 shares of the company's stock worth $880,000 after purchasing an additional 740 shares during the period. Institutional investors own 91.00% of the company's stock.

Carrier Global Price Performance

CARR traded down $0.50 during midday trading on Wednesday, hitting $54.26. The company had a trading volume of 2,661,753 shares, compared to its average volume of 4,707,065. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $60.87. The firm's 50-day simple moving average is $56.45 and its 200-day simple moving average is $54.76. The company has a market capitalization of $48.84 billion, a PE ratio of 34.34, a P/E/G ratio of 2.34 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 (NYSE:CARR - Get Free Report) last released its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. Equities research analysts predict that Carrier Global Co. will post 2.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CARR. Citigroup lifted their price target on Carrier Global from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $63.00 to $57.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 7th. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $63.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 7th. Finally, Barclays increased their target price on shares of Carrier Global from $71.00 to $78.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $60.77.

Insiders Place Their Bets

In related news, VP Kevin J. O'connor sold 26,551 shares of Carrier Global stock in a transaction that occurred on 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 owns 66,083 shares of the company's stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Carrier Global 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 transaction, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated 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 transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Company insiders own 6.95% 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 in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.