Oppenheimer Raises Carrier Global (NYSE:CARR) Price Target to $64.00

Carrier Global (NYSE:CARR) had its target price raised by equities research analysts at Oppenheimer from $63.00 to $64.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 6.05% from the stock’s previous close.

Several other analysts also recently issued reports on CARR. Wells Fargo & Company boosted their target price on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday. Citigroup boosted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays upped their price target on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Royal Bank of Canada dropped their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $62.00.

Carrier Global Price Performance

Shares of NYSE CARR traded up $0.54 during trading on Friday, hitting $60.35. The company had a trading volume of 3,628,637 shares, compared to its average volume of 4,778,907. The company has a market cap of $54.32 billion, a P/E ratio of 38.21, a PEG ratio of 2.31 and a beta of 1.39. Carrier Global has a 52 week low of $40.28 and a 52 week high of $60.87. The business’s 50-day moving average is $56.41 and its 200 day moving average is $54.79. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. Equities research analysts predict that Carrier Global will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the company’s 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 sale, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Kevin J. O’connor sold 26,551 shares of the company’s 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 owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following 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 disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CARR. McClarren Financial Advisors Inc. increased its holdings in shares of Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after buying an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $25,000. EdgeRock Capital LLC bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC boosted its stake in Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after acquiring an additional 221 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in Carrier Global in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.