Carrier Global Co. (NYSE:CARR) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC reduced its holdings in Carrier Global Co. (NYSE:CARR) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 portfolio, making the stock its 25th biggest holding. Highland Capital Management LLC’s holdings in Carrier Global were worth $13,579,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $799,843,000 after buying an additional 15,330,140 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Carrier Global by 83,676.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock worth $346,925,000 after buying an additional 8,400,264 shares during the period. Norges Bank purchased a new stake in shares of Carrier Global in the fourth quarter worth about $297,581,000. C WorldWide Group Holding A S purchased a new stake in shares of Carrier Global in the third quarter worth about $260,761,000. Finally, Victory Capital Management Inc. boosted its position in shares of Carrier Global by 1,140.8% in the fourth quarter. Victory Capital Management Inc. now owns 4,138,117 shares of the company’s stock worth $170,697,000 after buying an additional 3,804,624 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Carrier Global Price Performance

Shares of NYSE:CARR opened at $57.68 on Thursday. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $60.87. The business has a fifty day simple moving average of $56.13 and a 200 day simple moving average of $54.54. The firm has a market cap of $51.92 billion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 2.41 and a beta of 1.39.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, beating 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 company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that Carrier Global Co. will post 2.82 earnings per share for the current fiscal year.

Insider Transactions at Carrier Global

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 value 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 Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares in the company, 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 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.