Carrier Global (NYSE:CARR) Reaches New 12-Month High at $73.16

Carrier Global Co. (NYSE:CARR)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $73.16 and last traded at $73.11, with a volume of 2521615 shares changing hands. The stock had previously closed at $71.83.

Analysts Set New Price Targets

CARR has been the subject of several recent analyst reports. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Wells Fargo & Company increased their price target on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.17.

Carrier Global Trading Up 2.1 %

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 business has a fifty day moving average of $67.34 and a 200-day moving average of $62.85. The stock has a market capitalization of $66.21 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Carrier Global

In related news, 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 completion of the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

Hedge funds have recently made changes to their positions in the company. Marathon Capital Management boosted its position in Carrier Global by 4.1% during the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after acquiring an additional 156 shares during the period. Savant Capital LLC grew its position in Carrier Global by 0.5% during the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after purchasing an additional 162 shares in the last quarter. Founders Capital Management LLC grew its position in Carrier Global by 3.4% during the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after purchasing an additional 175 shares in the last quarter. Manchester Capital Management LLC increased its stake in Carrier Global by 4.3% in the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after buying an additional 180 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after buying an additional 182 shares in the last quarter. Hedge funds and other 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.