Allspring Global Investments Holdings LLC Lowers Stock Position in Carrier Global Co. (NYSE:CARR)

Allspring Global Investments Holdings LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 76.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,558 shares of the company’s stock after selling 501,131 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Carrier Global were worth $9,052,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Bleakley Financial Group LLC grew its position in Carrier Global by 52.8% in the 4th quarter. Bleakley Financial Group LLC now owns 45,249 shares of the company’s stock valued at $2,600,000 after buying an additional 15,645 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in Carrier Global by 5.1% in the fourth quarter. Meeder Advisory Services Inc. now owns 15,322 shares of the company’s stock valued at $880,000 after acquiring an additional 740 shares during the period. Americana Partners LLC lifted its holdings in Carrier Global by 5.4% in the fourth quarter. Americana Partners LLC now owns 7,061 shares of the company’s stock valued at $406,000 after acquiring an additional 360 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Carrier Global in the fourth quarter valued at $31,013,000. Finally, Massachusetts Wealth Management lifted its holdings in Carrier Global by 91.3% in the fourth quarter. Massachusetts Wealth Management now owns 8,275 shares of the company’s stock valued at $475,000 after acquiring an additional 3,950 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup raised their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada cut their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Wells Fargo & Company dropped their price objective on 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. Finally, Barclays lifted their price objective on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.77.

Carrier Global Stock Down 1.3 %

Shares of NYSE:CARR opened at $54.76 on Wednesday. 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 Co. has a 1 year low of $40.28 and a 1 year high of $60.87. The stock has a market capitalization of $49.29 billion, a P/E ratio of 34.66, a PEG ratio of 2.40 and a beta of 1.39. The stock has a 50-day simple moving average of $56.44 and a 200-day simple moving average of $54.76.

Carrier Global (NYSE:CARR) last released 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 firm 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%. Carrier Global’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. Equities analysts forecast that Carrier Global Co. will post 2.82 earnings per share for the current year.

Insider Buying and Selling

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the company’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 directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the company’s 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 directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the company’s 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 transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

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.