Primecap Management Co. CA Has $154.53 Million Holdings in Carrier Global Co. (NYSE:CARR)

Primecap Management Co. CA decreased its stake in Carrier Global Co. (NYSE:CARR) by 20.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,449,791 shares of the company’s stock after selling 613,351 shares during the period. Primecap Management Co. CA owned approximately 0.27% of Carrier Global worth $154,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CARR. JPMorgan Chase & Co. raised its position in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after buying an additional 17,021,768 shares during the last quarter. Norges Bank bought a new position in Carrier Global during the fourth quarter valued at about $444,487,000. Capital International Investors raised its holdings in Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. lifted its position in shares of Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of Carrier Global by 3.3% during the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after purchasing an additional 2,961,923 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company upped their target price on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Oppenheimer raised their price objective on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Royal Bank of Canada raised their price target on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Finally, Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Stock Up 0.8 %

Shares of CARR opened at $77.11 on Tuesday. The company has a market capitalization of $69.48 billion, a P/E ratio of 53.92, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a one year low of $45.68 and a one year high of $77.48. The business’s 50 day simple moving average is $68.32 and its 200-day simple moving average is $63.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts predict that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

About Carrier Global

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.