Carrier Global Corporation has been a leader in the heating, ventilating, and air conditioning (HVAC) industry for many years. It has generated a market capitalization of $34.90 billion and continues to expand with its innovative products, controls, services, and solutions.
Stephens Inc. AR, an investment management firm that has been around since 1933, announced on their most recent 13F filing with the Securities and Exchange Commission that they trimmed their holdings in Carrier Global Co. by 10.3% in the fourth quarter of 2022. The fund owned over 52,000 shares of the company’s stock before selling over 6,000 shares during the quarter.
This news may sound concerning to those invested in NYSE:CARR; however, it is crucial to recognize that buying and selling stocks is a common practice among investors seeking to diversify their portfolio or manage risk. This decision by Stephens Inc. AR should not reflect negatively on Carrier Global Co.’s performance as a company.
In fact, Carrier Global Co.’s stock opened at $41.80 last Friday with a 50-day moving average price of $45.06 and a 200-day moving average price of $42.27. This indicates stability in the market with strong support levels for CARR’s share value.
Furthermore, CARR continues to have an impressive list of ratios showcasing its financial strength; including a P/E ratio of 10.20 and P/E/G ratio of 1.81 – highlighting its potential for growth given its current undervaluation.
Additionally, CARR’s beta value of 1.32 reflects its positive correlation with market trends but shows resilience towards market fluctuations – another great attribute for investors looking for stability during these unprecedented times.
Lastly, Carrier Global Co.’s capital structure seems healthy from a liquidity standpoint as well: boasting a quick ratio of 1.20 along with a current ratio of 1.64, indicating that it has the ability to cover its short-term obligations and maintain business continuity.
In conclusion, investors should not be dissuaded by Stephens Inc. AR’s recent trimming of holdings in Carrier Global Co. Rather, they should focus on the innovative products and solutions that Carrier Global Co. is offering and keep an eye on their continued growth potential.
Carrier Global: Hedge Fund Support and Insider Trading Activities amidst Q4 Earnings and Mixed Ratings
Carrier Global: A Deep Dive Into Latest News, Earnings and Ratings
Carrier Global Corporation is a leading provider of HVAC, refrigeration, fire, security and building automation technologies across the globe. With three segments operating smoothly – HVAC, Refrigeration and Fire & Security – the company has been experiencing significant support from hedge funds and institutional investors lately.
In fact, Daymark Wealth Partners LLC purchased a new stake in Carrier Global during Q4 2022 valued at about $295,000. Meanwhile, Mayflower Financial Advisors LLC lifted its stake by 12.9% to now own 15,029 shares of the company’s stock valued at $620,000 after buying an additional 1,718 shares. There were similar moves made by Lindbrook Capital LLC and Aevitas Wealth Management Inc. who also acquired stakes in the fourth quarter valued at about $221,000 respectively.
Empirical Finance LLC saw an impressive increase in its stake in Carrier Global by 8.9% during the fourth quarter to now own 22,024 shares of the company’s stock valued at $908,000 after buying an additional 1,800 shares.
It is worth noting that a whopping majority (85.21%) of Carrier Global’s stock is owned by hedge funds and other institutional investors.
On other news regarding insider trading activities within the company itself: VP Kyle Crockett sold 10,433 shares of Carrier Global’s stock in a transaction that occurred on Thursday February 9th whilst stocks were trading high at around $45 per share on average; this totaled up to $478,353.05 for Crockett.
VP Nadia Villeneuve also proved her investment fund worth by selling off over twenty thousand shares later on March 2nd for a total value nearing one million dollars.
For Q4 earnings results released on Tuesday February 7th earlier this year however there was nothing but good news for CARR. The stock posted $0.40 EPS for the quarter, meeting the consensus estimate of $0.40 with a 26.86% return on equity and a healthy net margin of 17.31%. Revenue figures for Q4 were also impressive with a total of $5.11 billion showing an increase in revenue by 0.5%.
Despite all these good things it is worth noting that Barclays dropped their target price on Carrier Global from $51 to $50 and set an “overweight” rating on the stock in a report published on Wednesday March 22nd earlier this year. Other analysts have had more ambitious targets than Barclays however – such as Argus who upped their target price from $50 to $52 back in February earlier this year.
Ultimately, Carrier Global has been receiving mixed feedback from the research analyst community with four out of thirteen recent reports having rated the stock as “hold”. However, brokerage firms like Oppenheimer (which began coverage of CARR recently) along with others including Goldman Sachs may provide some hope for investors looking for either moderate or strong buy ratings.
Overall, CARR may be worth considering for any portfolio geared towards high-quality stocks with excellent growth potential – even though their earnings results have come back flat as opposed to explosive compared to previous years.