Carrier Global (NYSE:CARR) Price Target Increased to $79.00 by Analysts at Barclays

Carrier Global (NYSE:CARR) had its price objective lifted by Barclays from $78.00 to $79.00 in a research report report published on Friday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also recently commented on CARR. Oppenheimer reaffirmed an outperform rating and issued a $63.00 target price on shares of Carrier Global in a research report on Thursday, April 18th. Royal Bank of Canada cut their price objective on Carrier Global from $63.00 to $60.00 and set an outperform rating for the company in a report on Wednesday, February 7th. Citigroup increased their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a report on Monday, April 8th. Finally, Wells Fargo & Company cut their price objective on Carrier Global from $63.00 to $57.00 and set an equal weight rating for the company in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $62.00.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $60.51 on Friday. The stock has a market cap of $54.47 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.39. The business has a fifty day simple moving average of $56.54 and a 200-day simple moving average of $54.83. The company has a quick ratio of 2.40, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. Carrier Global has a 12 month low of $40.28 and a 12 month high of $60.87.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. On average, sell-side analysts anticipate that Carrier Global will post 2.84 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a yield of 1.26%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently made changes to their positions in the business. Signature Wealth Management Partners LLC bought a new position in shares of Carrier Global in the first quarter worth about $201,000. LifeSteps Financial Inc. bought a new position in shares of Carrier Global in the first quarter worth about $41,000. YHB Investment Advisors Inc. increased its stake in shares of Carrier Global by 2.2% in the first quarter. YHB Investment Advisors Inc. now owns 46,628 shares of the company’s stock worth $2,710,000 after purchasing an additional 1,015 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in shares of Carrier Global in the first quarter worth about $807,000. Finally, MONECO Advisors LLC bought a new position in shares of Carrier Global in the first quarter worth about $204,000. 91.00% of the stock is currently owned by institutional investors.

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.