Tufton Capital Management Sells 5,265 Shares of Carrier Global Co. (NYSE:CARR)

Tufton Capital Management decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,749 shares of the company’s stock after selling 5,265 shares during the period. Tufton Capital Management’s holdings in Carrier Global were worth $5,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CARR. American Century Companies Inc. grew its position in Carrier Global by 29.2% during the first quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock worth $750,000 after buying an additional 3,700 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Carrier Global by 40.1% during the 1st quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock worth $1,673,000 after purchasing an additional 10,445 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Carrier Global by 23.2% in the first quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock worth $343,000 after purchasing an additional 1,412 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Carrier Global by 22.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock valued at $2,992,000 after purchasing an additional 12,089 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in Carrier Global by 10.6% during the first quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock worth $36,078,000 after purchasing an additional 75,622 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the subject of several analyst reports. Citigroup boosted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Oppenheimer reissued an “outperform” rating and set a $63.00 price target on shares of Carrier Global in a report on Thursday. Wells Fargo & Company dropped their price objective on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Barclays lifted their target price on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada dropped their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.15.

Carrier Global Price Performance

NYSE CARR remained flat at $54.25 on Thursday. The company had a trading volume of 811,870 shares, compared to its average volume of 4,652,807. The firm has a market cap of $48.83 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.87. The business has a fifty day moving average price of $56.45 and a 200 day moving average price of $54.76.

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

Insiders Place Their Bets

In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, 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 available at this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the company’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 value of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $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 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.