Telos Capital Management Inc. Sells 1,255 Shares of Carrier Global Co. (NYSE:CARR)

Telos Capital Management Inc. cut its position in Carrier Global Co. (NYSE:CARR) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,803 shares of the company’s stock after selling 1,255 shares during the period. Telos Capital Management Inc.’s holdings in Carrier Global were worth $5,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CARR. Scissortail Wealth Management LLC purchased a new position in shares of Carrier Global in the fourth quarter valued at about $452,000. Tyche Wealth Partners LLC purchased a new position in Carrier Global in the 4th quarter worth approximately $329,000. Avior Wealth Management LLC lifted its holdings in Carrier Global by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,278 shares of the company’s stock worth $73,000 after purchasing an additional 295 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Carrier Global by 0.4% in the 4th quarter. Mackenzie Financial Corp now owns 563,348 shares of the company’s stock worth $32,364,000 after purchasing an additional 2,404 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Carrier Global during the 4th quarter valued at approximately $205,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Down 0.7 %

NYSE:CARR traded down $0.40 during mid-day trading on Wednesday, reaching $54.36. The company’s stock had a trading volume of 1,305,088 shares, compared to its average volume of 4,687,580. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $60.87. The stock has a fifty day moving average of $56.44 and a 200-day moving average of $54.76. The firm has a market capitalization of $48.93 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 2.34 and a beta of 1.39.

Carrier Global (NYSE:CARR) last announced its 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. 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 during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Equities research analysts forecast that Carrier Global Co. will post 2.82 earnings per share for the current year.

Insider Activity

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 stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following 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 SEC, which is available through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CARR shares. Citigroup boosted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock 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 research report on Wednesday, February 7th. Royal Bank of Canada decreased their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, Barclays increased their price target on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.77.

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.