Trueblood Wealth Management LLC Acquires New Shares in Carrier Global Co. (NYSE:CARR)

Trueblood Wealth Management LLC acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,157 shares of the company’s stock, valued at approximately $1,330,000. Carrier Global accounts for about 0.8% of Trueblood Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in shares of Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after buying an additional 221 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Carrier Global in the third quarter valued at $28,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Carrier Global in the third quarter valued at $30,000. Covestor Ltd lifted its holdings in shares of Carrier Global by 121.2% in the first quarter. Covestor Ltd now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 303 shares during the period. Finally, Planned Solutions Inc. acquired a new stake in shares of Carrier Global during the fourth quarter worth $33,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 0.2 %

Shares of CARR traded up $0.14 during trading hours on Wednesday, hitting $57.68. 2,699,028 shares of the company were exchanged, compared to its average volume of 4,906,469. The company has a market cap of $51.92 billion, a PE ratio of 36.51, a PEG ratio of 2.41 and a beta of 1.39. The firm’s 50 day moving average is $56.13 and its 200-day moving average is $54.54. Carrier Global Co. has a 52 week low of $40.28 and a 52 week high of $60.87. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The firm’s revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that Carrier Global Co. will post 2.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CARR shares. Wells Fargo & Company cut their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Royal Bank of Canada cut their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, Citigroup boosted their target price on Carrier Global from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $58.29.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction that occurred 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 owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction that occurred on Thursday, February 8th. The stock was 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 of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

About Carrier Global

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.