Carrier Global (NYSE:CARR) Given New $70.00 Price Target at Oppenheimer

Carrier Global (NYSE:CARR) had its target price decreased by Oppenheimer from $71.00 to $70.00 in a research note issued to investors on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. TD Cowen raised their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a buy rating in a report on Monday, April 29th. Robert W. Baird dropped their price target on shares of Carrier Global from $75.00 to $74.00 and set an outperform rating on the stock in a research report on Friday. Royal Bank of Canada reissued an outperform rating and issued a $72.00 price target on shares of Carrier Global in a research report on Friday. Barclays lifted their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an overweight rating in a research report on Friday, June 14th. Finally, Baird R W raised shares of Carrier Global from a hold rating to a strong-buy rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $66.86.

Carrier Global Stock Performance

NYSE:CARR opened at $67.62 on Friday. Carrier Global has a twelve month low of $45.68 and a twelve month high of $70.09. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $64.56 and a 200-day moving average of $60.01. The firm has a market cap of $60.93 billion, a price-to-earnings ratio of 47.29, a price-to-earnings-growth ratio of 2.60 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.12%. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Activity

In other news, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the sale, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The disclosure for this sale can be found here. 6.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CARR. McClarren Financial Advisors Inc. raised its holdings in shares of 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 buying an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Carrier Global in the fourth quarter valued at about $25,000. Olistico Wealth LLC bought a new position in shares of Carrier Global in the second quarter valued at about $25,000. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the fourth quarter valued at about $27,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Carrier Global in the fourth quarter valued at about $32,000. 91.00% of the stock is 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.