Carrier Global (NYSE:CARR – Get Free Report) had its price objective upped by equities researchers at Wells Fargo & Company from $73.00 to $82.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company’s target price would indicate a potential upside of 2.27% from the company’s current price.
Several other brokerages have also recently issued reports on CARR. Oppenheimer raised their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Robert W. Baird decreased their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.80.
Carrier Global Stock Down 0.8 %
Shares of NYSE CARR traded down $0.62 during midday trading on Monday, hitting $80.18. The stock had a trading volume of 1,390,642 shares, compared to its average volume of 4,180,192. The company has a market cap of $72.24 billion, a P/E ratio of 56.07, a PEG ratio of 3.23 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $72.10 and its 200-day moving average is $65.63. Carrier Global has a 52 week low of $45.68 and a 52 week high of $81.64.
Carrier Global (NYSE:CARR – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the prior year, the company posted $0.79 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, analysts predict that Carrier Global will post 2.84 EPS for the current year.
Insider Buying and Selling
In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is owned by corporate insiders.
Institutional Trading of Carrier Global
Several institutional investors and hedge funds have recently made changes to their positions in CARR. Elo Mutual Pension Insurance Co lifted its position in shares of Carrier Global by 4.7% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 73,130 shares of the company’s stock worth $4,201,000 after purchasing an additional 3,257 shares during the last quarter. Cullen Capital Management LLC lifted its position in shares of Carrier Global by 4.6% during the fourth quarter. Cullen Capital Management LLC now owns 5,845 shares of the company’s stock worth $336,000 after purchasing an additional 257 shares during the last quarter. LM Advisors LLC bought a new stake in shares of Carrier Global in the fourth quarter valued at about $279,000. Barden Capital Management Inc. raised its holdings in shares of Carrier Global by 14.8% in the fourth quarter. Barden Capital Management Inc. now owns 36,876 shares of the company’s stock valued at $2,038,000 after acquiring an additional 4,752 shares in the last quarter. Finally, Firsthand Capital Management Inc. bought a new stake in shares of Carrier Global in the fourth quarter valued at about $57,000. 91.00% of the stock is currently owned by institutional investors.
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.