TD Cowen Increases Carrier Global (NYSE:CARR) Price Target to $70.00

Carrier Global (NYSE:CARR) had its target price boosted by analysts at TD Cowen from $66.00 to $70.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 11.96% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Citigroup raised their target price 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 raised their target price on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday. Oppenheimer raised their target price on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Carrier Global has an average rating of “Hold” and a consensus price target of $62.62.

Carrier Global Price Performance

Shares of NYSE CARR traded up $2.02 during mid-day trading on Monday, reaching $62.52. The company had a trading volume of 4,461,619 shares, compared to its average volume of 4,811,002. The firm has a market cap of $56.33 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 2.53 and a beta of 1.39. The business’s 50-day simple moving average is $56.54 and its 200 day simple moving average is $54.82. Carrier Global has a one year low of $40.28 and a one year high of $62.52. 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 EPS 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 5.41% and a return on equity of 26.01%. On average, research analysts predict that Carrier Global will post 2.84 earnings per share for the current fiscal year.

Insider Activity at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Carrier Global 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 sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. McClarren Financial Advisors Inc. increased its stake in Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in Carrier Global in the fourth quarter valued at $25,000. EdgeRock Capital LLC bought a new position in Carrier Global in the fourth quarter valued at $27,000. OFI Invest Asset Management bought a new position in Carrier Global in the third quarter valued at $28,000. Finally, Larson Financial Group LLC increased its stake in Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after acquiring an additional 221 shares during the last quarter. 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.