Carrier Global (NYSE:CARR) Hits New 1-Year High After Analyst Upgrade

Carrier Global Co. (NYSE:CARR)’s stock price hit a new 52-week high during trading on Monday after Oppenheimer raised their price target on the stock from $63.00 to $64.00. Oppenheimer currently has an outperform rating on the stock. Carrier Global traded as high as $61.90 and last traded at $61.89, with a volume of 862133 shares changing hands. The stock had previously closed at $60.50.

CARR has been the subject of a number of other research reports. Wells Fargo & Company boosted their price target on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday. Royal Bank of Canada decreased their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Barclays increased their target price on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Citigroup boosted their price target on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.00.

Insider Buying and Selling at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated 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 owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was 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 owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carrier Global

A number of large investors have recently bought and sold shares of CARR. McClarren Financial Advisors Inc. raised its stake in shares of Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after buying an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of Carrier Global in the 4th quarter valued at $25,000. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global during the 4th quarter worth about $27,000. Larson Financial Group LLC grew its holdings 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 purchasing an additional 221 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Carrier Global in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 2.0 %

The business has a 50-day moving average price of $56.54 and a 200-day moving average price of $54.82. The stock has a market cap of $55.62 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.53 and a beta of 1.39. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31.

Carrier Global (NYSE:CARR) last announced its 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. 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 analyst estimates of $6.27 billion. As a group, analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

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.