Carrier Global (NYSE:CARR) PT Raised to $63.00

Carrier Global (NYSE:CARR) had its price objective boosted by Citigroup from $60.00 to $63.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

CARR has been the topic of several other reports. Barclays increased their price target on shares of Carrier Global from $71.00 to $78.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Royal Bank of Canada decreased their target price on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a research report on Wednesday, February 7th. Finally, Wells Fargo & Company decreased their target price on shares of Carrier Global from $63.00 to $57.00 and set an equal weight rating on the stock in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $59.86.

Carrier Global Stock Down 0.5 %

CARR stock opened at $56.62 on Monday. The company’s 50 day simple moving average is $56.44 and its 200-day simple moving average is $54.73. The firm has a market capitalization of $50.96 billion, a PE ratio of 35.84, a P/E/G ratio of 2.44 and a beta of 1.39. Carrier Global has a 12 month low of $40.28 and a 12 month high of $60.87. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 earnings per share. Equities analysts expect that Carrier Global will post 2.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. lifted its position in Carrier Global by 29.2% in the 1st quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock valued at $750,000 after purchasing an additional 3,700 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Carrier Global by 40.1% during the 1st quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock worth $1,673,000 after buying an additional 10,445 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Carrier Global by 23.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock worth $343,000 after buying an additional 1,412 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Carrier Global by 22.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock worth $2,992,000 after buying an additional 12,089 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of Carrier Global by 10.6% during the 1st quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock worth $36,078,000 after buying an additional 75,622 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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.