MJP Associates Inc. ADV Makes New $388,000 Investment in Carrier Global Co. (NYSE:CARR)

MJP Associates Inc. ADV bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the 4th quarter, Holdings Channel reports. The fund bought 6,759 shares of the company’s stock, valued at approximately $388,000.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Carrier Global by 3.9% in the 2nd quarter. BlackRock Inc. now owns 60,825,164 shares of the company’s stock worth $3,023,619,000 after buying an additional 2,282,320 shares in the last quarter. State Street Corp boosted its position in shares of Carrier Global by 1.2% in the 2nd quarter. State Street Corp now owns 33,534,416 shares of the company’s stock worth $1,673,138,000 after buying an additional 386,968 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Carrier Global by 712.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock worth $799,843,000 after buying an additional 15,330,140 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Carrier Global by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 17,377,066 shares of the company’s stock worth $793,207,000 after buying an additional 342,215 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Carrier Global by 16.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 15,917,718 shares of the company’s stock valued at $791,270,000 after purchasing an additional 2,197,116 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CARR shares. Wells Fargo & Company dropped 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 note on Wednesday, February 7th. Royal Bank of Canada dropped their target price 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. Finally, Citigroup upped their price target on Carrier Global from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Carrier Global has an average rating of “Hold” and an average price target of $58.29.

Carrier Global Stock Up 0.2 %

Shares of Carrier Global stock traded up $0.14 on Wednesday, hitting $57.68. 2,699,028 shares of the company’s stock traded hands, compared to its average volume of 4,906,469. 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 stock has a market cap of $51.92 billion, a P/E ratio of 36.51, a PEG ratio of 2.41 and a beta of 1.39. Carrier Global Co. has a 52-week low of $40.28 and a 52-week high of $60.87. The firm’s 50-day moving average is $56.07 and its 200 day moving average is $54.52.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. Equities analysts anticipate that Carrier Global Co. will post 2.82 earnings per share for the current year.

Insider Activity at Carrier Global

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly 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.