Donaldson Capital Management LLC Trims Stake in Carrier Global Co. (NYSE:CARR)

Donaldson Capital Management LLC decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 8.3% during the fourth quarter, Holdings Channel reports. The fund owned 7,684 shares of the company’s stock after selling 693 shares during the period. Donaldson Capital Management LLC’s holdings in Carrier Global were worth $441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CARR. Covestor Ltd grew its stake in shares of Carrier Global by 121.2% in the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after buying an additional 303 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Carrier Global in the 3rd quarter worth approximately $28,000. Larson Financial Group LLC grew its stake in shares of Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after buying an additional 221 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in Carrier Global during the 3rd quarter valued at $30,000. Finally, GHP Investment Advisors Inc. boosted its stake in Carrier Global by 205.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 595 shares of the company’s stock valued at $31,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Barclays increased their price target on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lowered their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Finally, Citigroup increased their price target on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Carrier Global presently has an average rating of “Hold” and an average price target of $60.77.

Insider Activity

In other news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

CARR stock traded down $1.18 during trading on Tuesday, reaching $54.28. The company’s stock had a trading volume of 342,591 shares, compared to its average volume of 4,693,922. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $60.87. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $48.86 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 2.40 and a beta of 1.39. The company’s fifty day moving average is $56.43 and its 200-day moving average is $54.76.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. On average, research analysts expect that Carrier Global Co. will post 2.82 earnings per share for the current fiscal year.

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.