Aveo Capital Partners LLC Lowers Stake in Carrier Global Co. (NYSE:CARR)

Aveo Capital Partners LLC lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 5.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,507 shares of the company’s stock after selling 255 shares during the period. Aveo Capital Partners LLC’s holdings in Carrier Global were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Founders Financial Securities LLC boosted its position in shares of Carrier Global by 5.0% during the 2nd quarter. Founders Financial Securities LLC now owns 5,834 shares of the company’s stock worth $368,000 after purchasing an additional 279 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Carrier Global by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 71,998 shares of the company’s stock worth $4,542,000 after purchasing an additional 610 shares during the period. Little House Capital LLC boosted its position in Carrier Global by 4.5% in the 2nd quarter. Little House Capital LLC now owns 9,358 shares of the company’s stock valued at $590,000 after buying an additional 407 shares during the period. Natixis Advisors LLC grew its stake in shares of Carrier Global by 13.2% in the second quarter. Natixis Advisors LLC now owns 223,104 shares of the company’s stock worth $14,073,000 after acquiring an additional 25,972 shares in the last quarter. Finally, Telos Capital Management Inc. grew its stake in shares of Carrier Global by 3.0% in the second quarter. Telos Capital Management Inc. now owns 114,418 shares of the company’s stock worth $7,217,000 after acquiring an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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 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 of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 6.95% of the stock is owned by corporate insiders.

Carrier Global Price Performance

Carrier Global stock opened at $69.09 on Thursday. The stock has a market cap of $62.25 billion, a P/E ratio of 48.31, a price-to-earnings-growth ratio of 2.90 and a beta of 1.32. The company has a fifty day simple moving average of $66.74 and a 200-day simple moving average of $62.33. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $73.06. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

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

Wall Street Analyst Weigh In

CARR has been the subject of several research reports. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Robert W. Baird dropped their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $72.00 price target on shares of Carrier Global in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.08.

Carrier Global Company 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.