Meeder Advisory Services Inc. Acquires 5,554 Shares of Carrier Global Co. (NYSE:CARR)

Meeder Advisory Services Inc. boosted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 35.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,331 shares of the company’s stock after purchasing an additional 5,554 shares during the period. Meeder Advisory Services Inc.’s holdings in Carrier Global were worth $1,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale lifted its stake in Carrier Global by 19.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,497,200 shares of the company’s stock worth $94,710,000 after purchasing an additional 240,667 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in Carrier Global by 0.8% during the second quarter. Johnson Investment Counsel Inc. now owns 26,608 shares of the company’s stock worth $1,678,000 after purchasing an additional 221 shares during the last quarter. Qsemble Capital Management LP bought a new stake in Carrier Global during the second quarter worth $999,000. Finally, American Century Companies Inc. lifted its stake in shares of Carrier Global by 57.7% in the 2nd quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock valued at $5,946,000 after acquiring an additional 34,487 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

CARR stock opened at $76.51 on Friday. The company has a market capitalization of $68.94 billion, a P/E ratio of 53.50, 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 quick ratio of 0.80 and a current ratio of 1.08. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $77.48. The business has a 50-day simple moving average of $68.05 and a two-hundred day simple moving average of $63.17.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. Research analysts expect that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Bank of America increased their price target on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday. Barclays increased their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Oppenheimer raised their target price on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Finally, Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.83.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred 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 transaction, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.