Oppenheimer Boosts Carrier Global (NYSE:CARR) Price Target to $74.00

Carrier Global (NYSE:CARR) had its target price boosted by Oppenheimer from $70.00 to $74.00 in a research report sent to investors on Friday morning, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also issued reports on CARR. Wells Fargo & Company raised their target price on shares of Carrier Global from $59.00 to $66.00 and gave the company an equal weight rating in a research note on Friday, April 26th. Barclays upped their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an overweight rating in a report on Friday, June 14th. Baird R W upgraded Carrier Global from a hold rating to a strong-buy rating in a research note on Monday, July 15th. Royal Bank of Canada restated an outperform rating and set a $72.00 target price on shares of Carrier Global in a research note on Friday, July 26th. Finally, Robert W. Baird lowered their target price on Carrier Global from $75.00 to $74.00 and set an outperform rating on the stock in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $67.08.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $67.38 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market capitalization of $60.71 billion, a P/E ratio of 47.12, a P/E/G ratio of 2.63 and a beta of 1.32. The business has a 50-day moving average of $65.02 and a two-hundred day moving average of $60.97. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $70.09.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 EPS. On average, equities research analysts predict that Carrier Global will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 21st were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.13%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Carrier Global by 0.5% during the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after buying an additional 466,829 shares during the last quarter. Capital Research Global Investors boosted its holdings 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 worth $5,333,084,000 after acquiring an additional 2,961,923 shares in the last quarter. Capital International Investors grew its position in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in 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 last quarter. 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.