Trueblood Wealth Management LLC Takes $1.33 Million Position in Carrier Global Co. (NYSE:CARR)

Trueblood Wealth Management LLC acquired a new stake in Carrier Global Co. (NYSE:CARR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,157 shares of the company’s stock, valued at approximately $1,330,000. Carrier Global accounts for approximately 0.8% of Trueblood Wealth Management LLC’s portfolio, making the stock its 27th biggest holding.

Several other large investors have also modified their holdings of the company. MJP Associates Inc. ADV acquired a new stake in shares of Carrier Global during the fourth quarter worth $388,000. Procyon Advisors LLC lifted its holdings in shares of Carrier Global by 8.5% during the fourth quarter. Procyon Advisors LLC now owns 6,300 shares of the company’s stock worth $362,000 after purchasing an additional 492 shares during the period. Planned Solutions Inc. acquired a new stake in shares of Carrier Global during the fourth quarter worth $33,000. PFG Investments LLC lifted its holdings in shares of Carrier Global by 11.5% during the fourth quarter. PFG Investments LLC now owns 4,052 shares of the company’s stock worth $233,000 after purchasing an additional 417 shares during the period. Finally, Bar Harbor Wealth Management lifted its holdings in shares of Carrier Global by 5.4% during the fourth quarter. Bar Harbor Wealth Management now owns 9,844 shares of the company’s stock worth $566,000 after purchasing an additional 500 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of CARR stock traded up $0.14 during mid-day trading on Wednesday, reaching $57.68. The stock had a trading volume of 2,699,028 shares, compared to its average volume of 4,906,469. Carrier Global Co. has a 12-month low of $40.28 and a 12-month high of $60.87. The company has a market cap of $51.92 billion, a P/E ratio of 36.51, a price-to-earnings-growth ratio of 2.41 and a beta of 1.39. The business has a 50-day simple moving average of $56.13 and a 200 day simple moving average of $54.54. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data 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 return on equity of 27.19% and a net margin of 6.10%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.82 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO David L. Gitlin sold 354,539 shares of Carrier Global 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 completion of the sale, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the SEC, which is available at 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank of Canada cut their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Citigroup increased their price objective on Carrier Global from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Finally, 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. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.29.

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.