Summitry LLC Has $36.25 Million Stake in Carrier Global Co. (NYSE:CARR)

Summitry LLC boosted its position in Carrier Global Co. (NYSE:CARR) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 531,044 shares of the company’s stock after buying an additional 16,473 shares during the period. Carrier Global comprises about 1.8% of Summitry LLC’s portfolio, making the stock its 22nd biggest holding. Summitry LLC’s holdings in Carrier Global were worth $36,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Carrier Global during the 4th quarter worth approximately $58,000. PKS Advisory Services LLC acquired a new stake in Carrier Global during the fourth quarter worth approximately $334,000. TIAA Trust National Association increased its stake in Carrier Global by 1.2% during the 4th quarter. TIAA Trust National Association now owns 31,967 shares of the company’s stock worth $2,182,000 after acquiring an additional 376 shares during the period. Congress Wealth Management LLC DE raised its holdings in Carrier Global by 29.7% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,278 shares of the company’s stock valued at $429,000 after acquiring an additional 1,436 shares in the last quarter. Finally, Crowley Wealth Management Inc. bought a new stake in shares of Carrier Global during the 4th quarter valued at $92,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CARR shares. Royal Bank of Canada dropped their price target on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a research report on Friday, February 14th. The Goldman Sachs Group began coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Barclays reduced their target price on Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised Carrier Global from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $77.00 to $78.00 in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.53.

Carrier Global Stock Up 0.2 %

Shares of NYSE CARR opened at $68.07 on Wednesday. The company has a 50 day simple moving average of $66.33 and a 200 day simple moving average of $71.94. 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 Co. has a 1 year low of $53.33 and a 1 year high of $83.32. The firm has a market cap of $58.81 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping 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 last year, the firm earned $0.53 EPS. On average, research analysts forecast that Carrier Global Co. will post 2.99 EPS 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.