Carrier Global (NYSE:CARR) Price Target Raised to $64.00

Carrier Global (NYSE:CARR) had its price target raised by equities research analysts at Robert W. Baird from $60.00 to $64.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price points to a potential upside of 5.02% from the company’s previous close.

Other analysts also recently issued research reports about the company. Royal Bank of Canada lowered their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Wells Fargo & Company boosted their price target on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Citigroup boosted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Barclays boosted their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, TD Cowen upped their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Carrier Global presently has an average rating of “Hold” and an average target price of $62.71.

Carrier Global Stock Performance

CARR opened at $60.94 on Friday. The company has a market cap of $54.91 billion, a PE ratio of 42.62, a price-to-earnings-growth ratio of 2.57 and a beta of 1.34. The stock has a 50-day moving average of $57.17 and a 200-day moving average of $55.02. Carrier Global has a 52-week low of $40.28 and a 52-week high of $63.79. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36.

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 analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. As a group, equities research analysts forecast that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on 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 sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 541,005 shares of company stock worth $30,536,214. Corporate insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. McClarren Financial Advisors Inc. lifted its position in Carrier Global by 86.7% during the fourth 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 fourth quarter valued at $25,000. EdgeRock Capital LLC purchased a new position in Carrier Global during the fourth quarter valued at $27,000. Larson Financial Group LLC grew its stake in shares of Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after buying an additional 221 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Carrier Global in the 3rd quarter worth $28,000. 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.