Carrier Global (NYSE:CARR) Price Target Increased to $66.00 by Analysts at Wells Fargo & Company

Carrier Global (NYSE:CARR) had its price objective boosted by Wells Fargo & Company from $59.00 to $66.00 in a research note issued to investors on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on CARR. Citigroup raised their target price on Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Oppenheimer reissued an outperform rating and set a $63.00 target price on shares of Carrier Global in a research note on Thursday, April 18th. Royal Bank of Canada cut their target price on Carrier Global from $63.00 to $60.00 and set an outperform rating for the company in a research note on Wednesday, February 7th. Finally, Barclays raised their target price on Carrier Global from $78.00 to $79.00 and gave the stock an overweight rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of Hold and a consensus price target of $62.00.

Carrier Global Stock Performance

NYSE CARR opened at $60.51 on Friday. Carrier Global has a 1-year low of $40.28 and a 1-year high of $60.87. The company has a market cap of $54.47 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.39. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 2.40. The stock’s 50 day simple moving average is $56.54 and its 200-day simple moving average is $54.83.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. As a group, equities research analysts anticipate that Carrier Global will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a yield of 1.26%. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling

In other Carrier Global 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 directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kevin J. O’connor sold 26,551 shares of the business’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 directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were 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 of the company’s stock, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by insiders.

Institutional Trading of Carrier Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Modera Wealth Management LLC lifted its holdings in shares of Carrier Global by 19.4% in the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after purchasing an additional 3,430 shares during the last quarter. Pinnacle Financial Partners Inc lifted its holdings in shares of Carrier Global by 9.0% in the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after purchasing an additional 476 shares during the last quarter. Andrew Hill Investment Advisors Inc. acquired a new position in Carrier Global in the 4th quarter valued at about $2,081,000. abrdn plc increased its position in Carrier Global by 40.6% in the 4th quarter. abrdn plc now owns 751,661 shares of the company’s stock valued at $43,183,000 after acquiring an additional 217,144 shares during the period. Finally, AIA Group Ltd increased its position in Carrier Global by 16.5% in the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after acquiring an additional 14,003 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Company 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.