Independent Advisor Alliance Acquires 4,730 Shares of Carrier Global Co. (NYSE:CARR)

Independent Advisor Alliance grew its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 76.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,919 shares of the company's stock after acquiring an additional 4,730 shares during the quarter. Independent Advisor Alliance's holdings in Carrier Global were worth $745,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Meridian Wealth Management LLC boosted its holdings in shares of Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock valued at $485,000 after acquiring an additional 137 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company's stock valued at $907,000 after acquiring an additional 143 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Carrier Global by 2.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company's stock valued at $403,000 after acquiring an additional 147 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of Carrier Global by 1.6% in the third quarter. Great Valley Advisor Group Inc. now owns 9,437 shares of the company's stock worth $759,000 after buying an additional 150 shares during the last quarter. Finally, Ingalls & Snyder LLC boosted its holdings in shares of Carrier Global by 1.2% in the third quarter. Ingalls & Snyder LLC now owns 12,315 shares of the company's stock worth $991,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CARR. Northcoast Research began coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Royal Bank of Canada dropped their price objective on shares of Carrier Global from $86.00 to $76.00 and set an "outperform" rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised shares of Carrier Global from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $77.00 to $78.00 in a report on Wednesday, March 5th. Citigroup dropped their price objective on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and an average target price of $82.53.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $1.31 on Thursday, hitting $66.37. 4,329,503 shares of the company traded hands, compared to its average volume of 4,245,540. The stock has a market capitalization of $57.34 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. Carrier Global Co. has a 52 week low of $53.33 and a 52 week high of $83.32. The business has a 50-day simple moving average of $66.36 and a 200 day simple moving average of $72.01.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter in the previous year, the company earned $0.53 EPS. Research analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

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.