Carrier Global Co. (NYSE:CARR) Shares Sold by Tufton Capital Management

Tufton Capital Management reduced its stake in Carrier Global Co. (NYSE:CARR) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in Carrier Global by 712.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock valued at $799,843,000 after purchasing an additional 15,330,140 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Carrier Global by 83,676.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock valued at $346,925,000 after purchasing an additional 8,400,264 shares in the last quarter. Norges Bank bought a new stake in Carrier Global during the fourth quarter worth approximately $297,581,000. C WorldWide Group Holding A S bought a new stake in shares of Carrier Global during the 3rd quarter worth $260,761,000. Finally, Victory Capital Management Inc. raised its position in shares of Carrier Global by 1,140.8% during the fourth quarter. Victory Capital Management Inc. now owns 4,138,117 shares of the company’s stock worth $170,697,000 after purchasing an additional 3,804,624 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR remained flat at $54.25 during trading hours 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 fifty day moving average of $56.45 and a 200-day moving average of $54.76. Carrier Global Co. has a fifty-two week low of $40.28 and a fifty-two week high of $60.87. The stock has a market cap of $48.83 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CARR shares. Barclays upped their price target on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada cut their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Citigroup boosted their price target on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company cut their price objective on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Finally, Oppenheimer restated an “outperform” rating and issued a $63.00 target price on shares of Carrier Global in a research note on Thursday. Three 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. Based on data from MarketBeat, Carrier Global currently has an average rating of “Hold” and an average price target of $61.15.

Insider Activity

In related news, CEO David L. Gitlin sold 354,539 shares of the business’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 transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

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.