Arizona State Retirement System increases stock position in Carrier Global Co. (NYSE:CARR)

Arizona State Retirement System grew its holdings in shares of Carrier Global Co. (NYSE:CARR – Free Report) by 1.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 234,850 shares of the company’s stock after acquiring an additional 2,876 shares during the period. Arizona State Retirement System’s holdings in Carrier Global were worth $14,814,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB raised its stake in Carrier Global by 5.5% in the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after acquiring an additional 43,002 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $973,000. Versor Investments LP purchased a new position in Carrier Global in the fourth quarter valued at approximately $1,132,000. BNP PARIBAS ASSET MANAGEMENT Holding SA boosted its holdings in Carrier Global by 50.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA now owns 390,272 shares of the company’s stock worth $22,687,000 after buying an additional 130,192 shares in the last quarter. Finally, GLOBALT Investments LLC GA purchased a new stake in Carrier Global during the fourth quarter valued at about $859,000. Institutional investors and hedge funds own 91.00% of the company’s shares.

Insider activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed via this link. 6.95% of shares are currently owned by insiders.

Analysts on Wall Street are forecasting an increase

A number of brokerages recently weighed in on CARR. Baird RW upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to an “equal perform” rating in a report on Friday. Royal Bank of Canada upped their target price on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday. Robert W. Baird cut their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $55.00 to $72.00 in a research note for Monday, July 29. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $69.38, according to MarketBeat.com.

Check out our latest research report on CARR

Overall performance of operator actions

Shares of NYSE CARR opened at $69.53 on Friday. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $73.06. The company has a market cap of $62.65 billion, a PE ratio of 48.62, a P/E/G ratio of 2.90 and a beta of 1.32. The stock has a 50-day simple moving average of $66.98 and a 200-day simple moving average of $62.48. The company has a current ratio of 1.08, a quick ratio of 0.80, and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR – Get Free Report ) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company’s quarterly revenue was up 11.7% year over year. In the same quarter last year, the firm posted EPS of $0.79. On average, equities research analysts forecast that Carrier Global Co. will post 2.84 EPS for the current year.

About Carrier Global

(Free report)

Carrier Global Corporation provides heating, ventilation and air conditioning (HVAC), refrigeration, fire, security and building automation technologies in the United States, Europe, Asia Pacific and internationally. It operates through three segments: HVAC, Refrigeration and Fire & Security.

See Also

Want to see what other hedge funds own CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Carrier Global Co. (NYSE:CARR – Free Report).

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