Carrier Global (NYSE:CARR) Now Covered by Morgan Stanley

Stock analysts at Morgan Stanley started coverage on shares of Carrier Global (NYSE:CARR) in a report released on Friday, Briefing.com reports. The brokerage set an “equal weight” rating and a $75.00 price target on the stock. Morgan Stanley’s target price would indicate a potential upside of 8.66% from the company’s previous close.

Several other analysts also recently weighed in on the company. Oppenheimer lifted their target price on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday. Bank of America upgraded Carrier Global from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $55.00 to $72.00 in a report on Monday, July 29th. Royal Bank of Canada lifted their price objective on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Robert W. Baird decreased their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.85.

Carrier Global Stock Down 0.1 %

Shares of CARR opened at $69.02 on Friday. The company has a market cap of $62.19 billion, a PE ratio of 48.27, a P/E/G ratio of 2.90 and a beta of 1.32. The business has a fifty day moving average of $66.85 and a 200 day moving average of $62.37. Carrier Global has a 52-week low of $45.68 and a 52-week high of $73.06. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

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

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 466,829 shares in the last quarter. Capital Research Global Investors grew its holdings in 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 buying an additional 2,961,923 shares in the last quarter. Capital International Investors grew its holdings in Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after buying an additional 17,021,768 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings 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 buying an additional 310,453 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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.