Carrier Global (NYSE:CARR) Price Target Increased to $79.00 by Analysts at Barclays

Carrier Global (NYSE:CARR) had its price objective hoisted by Barclays from $78.00 to $79.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on CARR. Royal Bank of Canada cut their price target on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. 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. Oppenheimer reiterated an outperform rating and issued a $63.00 target price on shares of Carrier Global in a research note on Thursday, April 18th. Finally, Wells Fargo & Company dropped 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 note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $62.00.

Carrier Global Stock Up 1.2 %

Carrier Global stock opened at $60.51 on Friday. Carrier Global has a fifty-two week low of $40.28 and a fifty-two week high of $60.87. The stock has a market cap of $54.47 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.39. The firm’s 50-day simple moving average is $56.54 and its 200 day simple moving average is $54.83. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.40 and a current ratio of 1.36.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Research analysts predict that Carrier Global will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insider Activity

In other news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Modera Wealth Management LLC increased its holdings in Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock worth $1,165,000 after acquiring an additional 3,430 shares during the period. Pinnacle Financial Partners Inc increased its holdings in Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock worth $332,000 after acquiring an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. bought a new stake in Carrier Global during the 4th quarter worth approximately $2,081,000. abrdn plc increased its holdings in Carrier Global by 40.6% during the 4th quarter. abrdn plc now owns 751,661 shares of the company’s stock worth $43,183,000 after acquiring an additional 217,144 shares during the period. Finally, AIA Group Ltd increased its holdings in Carrier Global by 16.5% during the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after acquiring an additional 14,003 shares during the period. 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.