Carrier Global (NYSE:CARR) Sets New 52-Week High at $66.64

Carrier Global Co. (NYSE:CARR) shares hit a new 52-week high during trading on Thursday . The company traded as high as $66.64 and last traded at $66.53, with a volume of 1045620 shares changing hands. The stock had previously closed at $63.60.

Analysts Set New Price Targets

A number of brokerages have recently commented on CARR. Oppenheimer increased their price target on Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Wells Fargo & Company increased their price objective on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. TD Cowen increased their price objective on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Barclays increased their price objective on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $64.14.

Carrier Global Price Performance

The firm has a market cap of $59.84 billion, a price-to-earnings ratio of 46.70, a P/E/G ratio of 2.46 and a beta of 1.32. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The business has a 50 day simple moving average of $63.87 and a 200-day simple moving average of $59.05.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Equities research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.14%. Carrier Global’s payout ratio is presently 53.15%.

Insider Transactions at Carrier Global

In other news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the transaction, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. Insiders have sold 262,954 shares of company stock worth $16,650,050 in the last 90 days. Insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Several institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC raised its holdings in Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after acquiring an additional 180 shares during the period. Beese Fulmer Investment Management Inc. raised its holdings in Carrier Global by 0.9% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock valued at $1,119,000 after acquiring an additional 181 shares during the period. Sunbelt Securities Inc. raised its holdings in Carrier Global by 2.3% during the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after acquiring an additional 182 shares during the period. Graypoint LLC raised its holdings in Carrier Global by 1.9% during the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after acquiring an additional 184 shares during the period. Finally, Sovereign Financial Group Inc. raised its holdings in Carrier Global by 4.7% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock valued at $243,000 after acquiring an additional 188 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.