Carrier Global (NYSE:CARR) PT Raised to $66.00

Carrier Global (NYSE:CARR) had its price objective hoisted by investment analysts at Wells Fargo & Company from $59.00 to $66.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.36% from the company’s previous close.

Other analysts have also issued research reports about the stock. Royal Bank of Canada cut their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Citigroup boosted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Oppenheimer reissued an “outperform” rating and issued a $63.00 price objective on shares of Carrier Global in a research report on Thursday, April 18th. Finally, Barclays upped their price target on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.00.

Carrier Global Stock Up 0.9 %

Shares of Carrier Global stock traded up $0.54 on Friday, hitting $60.35. The company had a trading volume of 3,628,637 shares, compared to its average volume of 4,778,907. The firm has a market capitalization of $54.32 billion, a P/E ratio of 38.21, a P/E/G ratio of 2.31 and a beta of 1.39. Carrier Global has a twelve month low of $40.28 and a twelve month high of $60.87. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. The stock has a 50-day moving average of $56.41 and a 200-day moving average of $54.79.

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

Insider Activity

In other news, CEO David L. Gitlin sold 354,539 shares of the 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 directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Kevin J. O’connor sold 26,551 shares of the company’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 transaction, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. 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

Large investors have recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its stake in Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after buying an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Carrier Global during the fourth quarter worth about $25,000. EdgeRock Capital LLC acquired a new stake in Carrier Global during the fourth quarter worth about $27,000. Larson Financial Group LLC grew its stake in Carrier Global by 76.2% during the third 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 acquired a new stake in Carrier Global during the third quarter worth about $28,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.