Carrier Global (NYSE:CARR) Rating Increased to Peer Perform at Wolfe Research

Wolfe Research upgraded shares of Carrier Global (NYSE:CARR) from an underperform rating to a peer perform rating in a research report sent to investors on Friday morning, Marketbeat reports.

CARR has been the subject of a number of other reports. Royal Bank of Canada increased their target price on Carrier Global from $72.00 to $79.00 and gave the stock an outperform rating in a research note on Thursday. Barclays increased their target price on Carrier Global from $79.00 to $81.00 and gave the stock an overweight rating in a research note on Friday, June 14th. Baird R W raised Carrier Global from a hold rating to a strong-buy rating in a research note on Monday, July 15th. Bank of America raised Carrier Global from an underperform rating to a neutral rating and increased their target price for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. Finally, Citigroup raised Carrier Global from a neutral rating to a buy rating and increased their target price for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $69.38.

Carrier Global Stock Up 0.7 %

Carrier Global stock opened at $69.53 on Friday. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $73.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company has a market capitalization of $62.65 billion, a P/E ratio of 48.62, a PEG ratio of 2.90 and a beta of 1.32. The stock has a 50-day simple moving average of $66.98 and a 200-day simple moving average of $62.48.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS. Equities research analysts expect that Carrier Global will post 2.84 earnings per share for the current year.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CARR. Aveo Capital Partners LLC lifted its stake in shares of Carrier Global by 3.9% during the 4th quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock worth $310,000 after purchasing an additional 205 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in shares of Carrier Global by 5.6% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 5,759 shares of the company’s stock worth $331,000 after purchasing an additional 307 shares during the period. Lincoln National Corp lifted its stake in shares of Carrier Global by 2.1% during the 4th quarter. Lincoln National Corp now owns 13,741 shares of the company’s stock worth $789,000 after purchasing an additional 280 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Carrier Global by 66.0% during the 4th quarter. Apollon Wealth Management LLC now owns 18,450 shares of the company’s stock worth $1,060,000 after purchasing an additional 7,333 shares during the period. Finally, Wealthspire Advisors LLC lifted its stake in shares of Carrier Global by 4.4% during the 4th quarter. Wealthspire Advisors LLC now owns 9,129 shares of the company’s stock worth $524,000 after purchasing an additional 387 shares during the period. 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.