Stock Yards Bank & Trust Co. Sells 3,589 Shares of Carrier Global Co. (NYSE:CARR)

Stock Yards Bank & Trust Co. reduced its stake in Carrier Global Co. (NYSE:CARR) by 36.1% during the second quarter, Holdings Channel.com reports. The fund owned 6,353 shares of the company’s stock after selling 3,589 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Carrier Global were worth $401,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Olistico Wealth LLC bought a new position in Carrier Global in the second quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its holdings in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the period. EdgeRock Capital LLC bought a new position in shares of Carrier Global during the 2nd quarter worth $32,000. United Community Bank purchased a new position in shares of Carrier Global during the fourth quarter valued at $34,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Carrier Global in the first quarter valued at about $34,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Up 1.2 %

Shares of CARR stock opened at $78.00 on Wednesday. The stock’s fifty day moving average price is $68.64 and its 200 day moving average price is $63.59. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $78.00. The company has a market cap of $70.28 billion, a price-to-earnings ratio of 54.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. 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 issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, research analysts expect that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CARR. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Bank of America increased their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Oppenheimer increased their target price on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Finally, Wells Fargo & Company boosted their price target on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $71.73.

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.