StoneX Group Inc. Invests $914,000 in Carrier Global Co. (NYSE:CARR)

StoneX Group Inc. bought a new stake in Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,382 shares of the company’s stock, valued at approximately $914,000.

Several other institutional investors and hedge funds have also modified their holdings of CARR. RFG Advisory LLC boosted its stake in Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after purchasing an additional 1,904 shares in the last quarter. Princeton Global Asset Management LLC raised its holdings in shares of Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after buying an additional 19,018 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in Carrier Global during the 4th quarter worth about $2,213,000. Waldron Private Wealth LLC grew its holdings in Carrier Global by 90.5% during the 4th quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company’s stock worth $1,128,000 after acquiring an additional 7,854 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Carrier Global by 761.6% in the 3rd quarter. Wellington Management Group LLP now owns 45,064 shares of the company’s stock valued at $3,627,000 after acquiring an additional 39,834 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CARR. Wells Fargo & Company reduced their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Citigroup lowered their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada dropped their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. upgraded shares of Carrier Global from a “neutral” rating to an “overweight” rating and upped their target price for the company from $77.00 to $78.00 in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.27.

Carrier Global Price Performance

CARR opened at $63.40 on Wednesday. The stock has a market cap of $54.78 billion, a P/E ratio of 10.10, a P/E/G ratio of 2.01 and a beta of 1.35. Carrier Global Co. has a 12 month low of $53.33 and a 12 month high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $65.81 and a 200 day simple moving average of $71.62.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the prior year, the company earned $0.53 earnings per share. On average, research analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

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.