Carrier Global (NYSE:CARR) PT Raised to $79.00 at Royal Bank of Canada

Carrier Global (NYSE:CARR) had its price target raised by Royal Bank of Canada from $72.00 to $79.00 in a report published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on CARR. Robert W. Baird reduced their price objective on Carrier Global from $75.00 to $74.00 and set an outperform rating for the company in a research report on Friday, July 26th. Bank of America raised Carrier Global from an underperform rating to a neutral rating and increased their price objective for the company from $55.00 to $72.00 in a research report on Monday, July 29th. Baird R W raised Carrier Global from a hold rating to a strong-buy rating in a research report on Monday, July 15th. Barclays increased their price objective on Carrier Global from $79.00 to $81.00 and gave the company an overweight rating in a research report on Friday, June 14th. Finally, Oppenheimer raised their target price on Carrier Global from $70.00 to $74.00 and gave the stock an outperform rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $70.17.

Carrier Global Trading Up 0.6 %

Shares of CARR stock opened at $69.48 on Thursday. Carrier Global has a 12 month low of $45.68 and a 12 month high of $73.06. 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 $66.98 and its two-hundred day moving average is $62.60. The company has a market cap of $62.60 billion, a PE ratio of 48.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.32.

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

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was 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 directly owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. 6.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Carrier Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after purchasing an additional 466,829 shares during the period. Capital Research Global Investors increased its position in Carrier Global by 3.3% in the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after purchasing an additional 2,961,923 shares during the period. Capital International Investors increased its position in Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the period. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Carrier Global by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after buying an additional 310,453 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.