Carrier Global (NYSE:CARR) PT Raised to $88.00

Carrier Global (NYSE:CARR) had its price objective increased by Oppenheimer from $74.00 to $88.00 in a research note published on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms have also recently commented on CARR. Barclays lifted their target price on shares of 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 upgraded Carrier Global from a hold rating to a strong-buy rating in a research note on Monday, July 15th. Wolfe Research upgraded Carrier Global from an underperform rating to a peer perform rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their price target on Carrier Global from $72.00 to $79.00 and gave the company an outperform rating in a report on Thursday, September 5th. Finally, Morgan Stanley started coverage on shares of Carrier Global in a report on Friday, September 6th. They set an equal weight rating and a $75.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Carrier Global currently has an average rating of Moderate Buy and an average target price of $73.82.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $80.80 on Wednesday. Carrier Global has a one year low of $45.68 and a one year high of $81.64. The stock has a market cap of $72.80 billion, a PE ratio of 56.50, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The business’s fifty day moving average price is $72.10 and its two-hundred day moving average price is $65.58. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. On average, analysts forecast that Carrier Global will post 2.84 EPS for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

A number of hedge funds have recently made changes to their positions in CARR. Bank of Nova Scotia lifted its holdings in Carrier Global by 14.5% in the 4th quarter. Bank of Nova Scotia now owns 101,937 shares of the company’s stock worth $5,856,000 after buying an additional 12,930 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Carrier Global by 8.8% in the fourth quarter. Jones Financial Companies Lllp now owns 4,345 shares of the company’s stock worth $250,000 after acquiring an additional 353 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Carrier Global in the fourth quarter valued at about $341,000. NEOS Investment Management LLC boosted its holdings in Carrier Global by 32.8% in the fourth quarter. NEOS Investment Management LLC now owns 11,869 shares of the company’s stock valued at $682,000 after purchasing an additional 2,934 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Carrier Global by 5.6% during the 4th quarter. Rafferty Asset Management LLC now owns 70,371 shares of the company’s stock valued at $4,043,000 after purchasing an additional 3,756 shares in the last quarter. 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.