Verdence Capital Advisors LLC Sells 845 Shares of Carrier Global Co. (NYSE:CARR)

Verdence Capital Advisors LLC lowered its stake in Carrier Global Co. (NYSE:CARR) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,325 shares of the company’s stock after selling 845 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Carrier Global were worth $637,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Meridian Wealth Management LLC increased its stake in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after purchasing an additional 137 shares in the last quarter. UMB Bank n.a. increased its stake in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after purchasing an additional 143 shares in the last quarter. Essex Savings Bank increased its stake in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Carrier Global by 2.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock valued at $403,000 after purchasing an additional 147 shares in the last quarter. Finally, Sittner & Nelson LLC increased its stake in Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $65.29 on Friday. The company has a market capitalization of $56.41 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. Carrier Global Co. has a fifty-two week low of $53.33 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The company’s 50-day moving average is $66.71 and its 200 day moving average is $72.25.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on CARR shares. Barclays reduced their target price on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. upgraded shares of Carrier Global from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $77.00 to $78.00 in a research note on Wednesday. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Citigroup reduced their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.53.

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.