Carrier Global (NYSE:CARR) PT Raised to $79.00

Carrier Global (NYSE:CARR) had its price objective hoisted by investment analysts at Barclays from $78.00 to $79.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 31.64% from the company’s current price.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and set a $63.00 target price on shares of Carrier Global in a report on Thursday, April 18th. Royal Bank of Canada decreased their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, Citigroup boosted their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.23.

Carrier Global Price Performance

CARR stock traded up $0.20 during trading on Friday, hitting $60.01. The stock had a trading volume of 1,773,879 shares, compared to its average volume of 4,752,579. The company’s 50 day moving average price is $56.41 and its two-hundred day moving average price is $54.79. Carrier Global has a 1-year low of $40.28 and a 1-year high of $60.87. The stock has a market cap of $54.02 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The firm had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. On average, sell-side analysts forecast that Carrier Global will post 2.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the 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 sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, 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. 6.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CARR. Capital Research Global Investors boosted its position in shares of Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after purchasing an additional 2,961,923 shares during the period. Capital International Investors boosted its position in shares of Carrier Global by 0.6% in the 4th quarter. Capital International Investors now owns 81,063,464 shares of the company’s stock valued at $4,657,260,000 after purchasing an additional 443,568 shares during the period. Fisher Asset Management LLC boosted its position in shares of Carrier Global by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock valued at $764,500,000 after purchasing an additional 310,453 shares during the period. Northern Trust Corp boosted its position in shares of Carrier Global by 3.4% in the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock valued at $493,560,000 after purchasing an additional 289,973 shares during the period. Finally, Norges Bank acquired a new position in shares of Carrier Global in the 4th quarter valued at $444,487,000. Institutional investors own 91.00% of the company’s stock.

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.