Carrier Global (NYSE:CARR) PT Raised to $79.00

Carrier Global (NYSE:CARR) had its price target increased by Barclays from $78.00 to $79.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 31.64% from the company’s current price.

A number of other brokerages have also recently commented on CARR. Citigroup upped their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company reduced their target price on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $63.00 target price on shares of Carrier Global in a report on Thursday, April 18th. Finally, Royal Bank of Canada reduced their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Hold” and an average target price of $61.23.

Carrier Global Stock Up 0.3 %

Shares of NYSE CARR traded up $0.20 during midday trading on Friday, hitting $60.01. The stock had a trading volume of 1,773,879 shares, compared to its average volume of 4,752,579. The business’s 50 day moving average is $56.41 and its 200-day moving average is $54.79. The company has a market cap of $54.02 billion, a P/E ratio of 37.98, a PEG ratio of 2.31 and a beta of 1.39. Carrier Global has a 52 week low of $40.28 and a 52 week high of $60.87. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. As a group, analysts predict that Carrier Global will post 2.82 EPS for the current year.

Insider Buying and Selling at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were 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 owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David L. Gitlin sold 354,539 shares of the firm’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 transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. increased its position in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in Carrier Global during the 4th quarter valued at about $25,000. EdgeRock Capital LLC purchased a new position in Carrier Global during the 4th quarter valued at about $27,000. Larson Financial Group LLC increased its position in Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after purchasing an additional 221 shares during the period. Finally, OFI Invest Asset Management purchased a new position in Carrier Global during the 3rd quarter valued at about $28,000. 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.