Impax Asset Management Group plc Trims Holdings in Carrier Global Co. (NYSE:CARR)

Impax Asset Management Group plc reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,209,507 shares of the company’s stock after selling 200,698 shares during the quarter. Impax Asset Management Group plc owned 0.47% of Carrier Global worth $265,536,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CARR. Olistico Wealth LLC purchased a new position in Carrier Global during the second quarter valued at approximately $25,000. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global in the second quarter valued at approximately $32,000. United Community Bank purchased a new stake in shares of Carrier Global in the fourth quarter valued at approximately $34,000. Register Financial Advisors LLC purchased a new stake in shares of Carrier Global in the first quarter valued at approximately $34,000. Finally, Rise Advisors LLC increased its position in shares of Carrier Global by 3,668.8% in the first quarter. Rise Advisors LLC now owns 603 shares of the company’s stock valued at $35,000 after buying an additional 587 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Up 2.8 %

Shares of Carrier Global stock traded up $1.92 during trading hours on Friday, hitting $70.96. The company’s stock had a trading volume of 322,851 shares, compared to its average volume of 4,211,829. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $73.06. The firm has a fifty day moving average of $66.85 and a 200-day moving average of $62.37. The stock has a market cap of $63.94 billion, a price-to-earnings ratio of 48.27, a P/E/G ratio of 2.90 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CARR shares. 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 report on Monday, June 24th. Bank of America upgraded Carrier Global from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $55.00 to $72.00 in a research report on Monday, July 29th. Wells Fargo & Company lifted their price target on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday. Morgan Stanley started coverage on Carrier Global in a research note on Friday. They issued an “equal weight” rating and a $75.00 price target on the stock. Finally, Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $69.38.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.