Shelton Capital Management Cuts Stock Position in Carrier Global Co. (NYSE:CARR)

Shelton Capital Management trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 116,002 shares of the company’s stock after selling 213 shares during the quarter. Shelton Capital Management’s holdings in Carrier Global were worth $7,918,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Carrier Global by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock valued at $1,181,300,000 after buying an additional 420,081 shares during the period. Fisher Asset Management LLC boosted its holdings in Carrier Global by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after acquiring an additional 46,222 shares during the period. Norges Bank bought a new position in Carrier Global during the 4th quarter worth approximately $588,029,000. Pictet Asset Management Holding SA grew its position in Carrier Global by 2.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,080,842 shares of the company’s stock worth $415,078,000 after acquiring an additional 126,174 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Carrier Global by 40.3% in the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company’s stock valued at $345,201,000 after purchasing an additional 1,453,247 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 2.4 %

NYSE:CARR opened at $55.46 on Wednesday. Carrier Global Co. has a 1-year low of $53.33 and a 1-year high of $83.32. The company has a market capitalization of $47.92 billion, a PE ratio of 8.83, a P/E/G ratio of 2.01 and a beta of 1.33. The firm’s 50-day moving average price is $64.63 and its 200-day moving average price is $70.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter in the prior year, the business earned $0.53 earnings per share. On average, equities analysts predict that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CARR has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup lowered their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Finally, Barclays lowered their price target on Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.33.

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.