L & S Advisors Inc Invests $2.90 Million in Carrier Global Co. (NYSE:CARR)

L & S Advisors Inc purchased a new position in shares of Carrier Global Co. (NYSE:CARR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,018 shares of the company’s stock, valued at approximately $2,903,000.

Several other institutional investors have also recently made changes to their positions in the business. Aveo Capital Partners LLC increased its holdings in Carrier Global by 3.9% in the 4th quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock worth $310,000 after acquiring an additional 205 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Carrier Global in the 4th quarter worth approximately $241,000. Level Four Advisory Services LLC grew its stake in shares of Carrier Global by 6.6% in the fourth quarter. Level Four Advisory Services LLC now owns 5,061 shares of the company’s stock valued at $291,000 after buying an additional 312 shares in the last quarter. ING Groep NV purchased a new stake in Carrier Global during the fourth quarter worth about $532,000. Finally, Norges Bank purchased a new stake in Carrier Global during the 4th quarter worth approximately $444,487,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 0.8 %

Carrier Global stock opened at $77.11 on Tuesday. The company has a market cap of $69.48 billion, a PE ratio of 53.92, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $77.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock’s 50 day moving average price is $68.32 and its 200 day moving average price is $63.43.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the business posted $0.79 earnings per share. Carrier Global’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent research reports. Bank of America upped their target price on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Barclays increased their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Royal Bank of Canada boosted their price target on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Finally, Oppenheimer increased their price objective on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.95% of the stock is owned by company 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.