Wedmont Private Capital Makes New $329,000 Investment in Carrier Global Co. (NYSE:CARR)

Wedmont Private Capital bought a new position in shares of Carrier Global Co. (NYSE:CARRGet Rating) during the second quarter, Holdings Channel reports. The institutional investor bought 9,239 shares of the company’s stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. Covestor Ltd raised its holdings in shares of Carrier Global by 121.2% during the first quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 303 shares during the period. Intelligent Financial Strategies bought a new position in shares of Carrier Global during the fourth quarter worth about $27,000. San Luis Wealth Advisors LLC bought a new position in shares of Carrier Global during the first quarter worth about $28,000. Capital Advisory Group Advisory Services LLC bought a new position in shares of Carrier Global during the first quarter worth about $30,000. Finally, Bivin & Associates Inc. bought a new position in shares of Carrier Global during the fourth quarter worth about $35,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

NYSE:CARR opened at $38.82 on Tuesday. Carrier Global Co. has a twelve month low of $34.12 and a twelve month high of $57.97. The company has a current ratio of 1.67, a quick ratio of 1.25 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average of $40.32 and a 200-day moving average of $40.41. The firm has a market cap of $32.67 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.83 and a beta of 1.34.

Carrier Global (NYSE:CARRGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Carrier Global had a net margin of 13.50% and a return on equity of 29.10%. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.15 billion. Analysts forecast that Carrier Global Co. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CARR. Barclays lowered their price target on shares of Carrier Global from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Jefferies Financial Group lowered their price target on shares of Carrier Global from $55.00 to $47.00 in a research report on Friday, July 15th. Mizuho decreased their target price on shares of Carrier Global from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, July 18th. Credit Suisse Group set a $41.00 target price on shares of Carrier Global in a research report on Tuesday, July 19th. Finally, Morgan Stanley increased their target price on shares of Carrier Global from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, September 1st. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Hold” and a consensus price target of $47.08.

Carrier Global Profile

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Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.

Further Reading

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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