Rialto Wealth Management LLC Makes New $653,000 Investment in Carrier Global Co. (NYSE:CARR)

Rialto Wealth Management LLC purchased a new position in shares of Carrier Global Co. (NYSE:CARR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,570 shares of the company’s stock, valued at approximately $653,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Carrier Global in the third quarter worth about $130,479,000. Raymond James Financial Inc. purchased a new position in shares of Carrier Global during the 4th quarter valued at about $108,433,000. Mizuho Securities USA LLC grew its stake in shares of Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after acquiring an additional 922,892 shares during the period. Finally, Proficio Capital Partners LLC increased its holdings in Carrier Global by 10,995.5% in the 4th quarter. Proficio Capital Partners LLC now owns 491,308 shares of the company’s stock worth $33,537,000 after acquiring an additional 486,880 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 3.0 %

NYSE CARR opened at $67.36 on Friday. The stock has a 50 day moving average price of $66.68 and a 200-day moving average price of $72.24. Carrier Global Co. has a one year low of $53.33 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The company has a market capitalization of $58.20 billion, a P/E ratio of 10.73, a P/E/G ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 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 last year, the company earned $0.53 earnings per share. As a group, equities analysts predict that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Citigroup lowered their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada cut their price target on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upgraded Carrier Global from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $77.00 to $78.00 in a research report on Wednesday. Finally, Wells Fargo & Company cut their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.53.

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.