Andrew Hill Investment Advisors Inc. Invests $2.08 Million in Carrier Global Co. (NYSE:CARR)

Andrew Hill Investment Advisors Inc. purchased a new position in Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,217 shares of the company’s stock, valued at approximately $2,081,000. Carrier Global comprises 2.2% of Andrew Hill Investment Advisors Inc.’s portfolio, making the stock its 25th biggest holding.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Carrier Global by 712.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock worth $799,843,000 after buying an additional 15,330,140 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in Carrier Global by 83,676.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock worth $346,925,000 after buying an additional 8,400,264 shares during the last quarter. Norges Bank acquired a new position in Carrier Global during the fourth quarter worth $297,581,000. C WorldWide Group Holding A S acquired a new position in Carrier Global during the third quarter worth $260,761,000. Finally, Victory Capital Management Inc. boosted its holdings in 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 valued at $170,697,000 after acquiring an additional 3,804,624 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CARR shares. Citigroup upped 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. 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 report on Tuesday, April 2nd. Oppenheimer restated an “outperform” rating and set a $63.00 price target on shares of Carrier Global in a report on Thursday. Royal Bank of Canada decreased their price target 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. Finally, Wells Fargo & Company decreased their price target on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Carrier Global has a consensus rating of “Hold” and an average target price of $61.15.

Carrier Global Stock Performance

Shares of NYSE CARR traded up $0.37 during mid-day trading on Friday, hitting $53.75. The company had a trading volume of 1,138,783 shares, compared to its average volume of 4,637,709. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. The business’s 50-day simple moving average is $56.41 and its 200-day simple moving average is $54.75. Carrier Global Co. has a 12 month low of $40.28 and a 12 month high of $60.87. The firm has a market cap of $48.38 billion, a P/E ratio of 33.79, a PEG ratio of 2.29 and a beta of 1.39.

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

Insiders Place Their Bets

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’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 transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’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 transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the chief executive officer now 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. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Company 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.