Davidson Trust Co. Sells 270 Shares of Carrier Global Co. (NYSE:CARR)

Davidson Trust Co. lessened its stake in Carrier Global Co. (NYSE:CARR) by 5.6% in the fourth quarter, HoldingsChannel reports. The firm owned 4,514 shares of the company’s stock after selling 270 shares during the period. Davidson Trust Co.’s holdings in Carrier Global were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CARR. Modera Wealth Management LLC grew its position in shares of Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after acquiring an additional 3,430 shares during the period. Pinnacle Financial Partners Inc grew its position in shares of Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after acquiring an additional 476 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Carrier Global by 13.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 489,403 shares of the company’s stock valued at $28,209,000 after acquiring an additional 59,308 shares during the period. Procyon Advisors LLC grew its position in shares of Carrier Global by 8.5% during the 4th quarter. Procyon Advisors LLC now owns 6,300 shares of the company’s stock valued at $362,000 after acquiring an additional 492 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Carrier Global by 1,020.9% during the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 30,252 shares of the company’s stock valued at $1,738,000 after acquiring an additional 27,553 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR stock traded up $0.53 during mid-day trading on Friday, hitting $53.91. The company had a trading volume of 1,068,141 shares, compared to its average volume of 4,636,550. The company has a market capitalization of $48.52 billion, a price-to-earnings ratio of 33.79, a P/E/G ratio of 2.29 and a beta of 1.39. Carrier Global Co. has a 12-month low of $40.28 and a 12-month high of $60.87. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The company has a 50-day moving average price of $56.41 and a 200 day moving average price of $54.75.

Carrier Global (NYSE:CARR) last announced 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. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, research analysts anticipate that Carrier Global Co. will post 2.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CARR shares. Barclays boosted their price objective on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada cut their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Wells Fargo & Company cut their price objective 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. Oppenheimer reaffirmed an “outperform” rating and issued a $63.00 target price on shares of Carrier Global in a report on Thursday. Finally, Citigroup upped their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.15.

Insiders Place Their Bets

In other news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. Corporate 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.