TradeLink Capital LLC Invests $334,000 in Carrier Global Co. (NYSE:CARR)

TradeLink Capital LLC acquired a new position in shares of Carrier Global Co. (NYSE:CARR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,300 shares of the company’s stock, valued at approximately $334,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Carrier Global by 5.5% in the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after purchasing 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after acquiring an additional 130,192 shares during the last quarter. GLOBALT Investments LLC GA purchased a new stake in shares of Carrier Global during the fourth quarter valued at approximately $859,000. Finally, United Services Automobile Association lifted its holdings in Carrier Global by 9.2% during the fourth quarter. United Services Automobile Association now owns 26,758 shares of the company’s stock worth $1,537,000 after acquiring an additional 2,244 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.95% of the stock is currently owned by insiders.

Carrier Global Trading Up 2.3 %

Shares of CARR opened at $75.38 on Friday. The firm’s 50 day simple moving average is $67.78 and its 200 day simple moving average is $63.01. The company has a market capitalization of $68.05 billion, a P/E ratio of 52.71, a P/E/G ratio of 2.77 and a beta of 1.32. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $75.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on CARR. Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Bank of America raised Carrier Global from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $55.00 to $72.00 in a report on Monday, July 29th. Oppenheimer boosted their price objective on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Robert W. Baird cut their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price target on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.17.

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.