TD Cowen Boosts Carrier Global (NYSE:CARR) Price Target to $70.00

Carrier Global (NYSE:CARR) had its price objective hoisted by equities research analysts at TD Cowen from $66.00 to $70.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 11.96% from the company’s previous close.

Several other equities analysts have also commented on the stock. Wells Fargo & Company raised their target price on shares of 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 target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Citigroup raised their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Barclays raised their target price on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Oppenheimer upped their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.62.

Carrier Global Stock Performance

Shares of CARR traded up $2.02 during trading hours on Monday, reaching $62.52. 4,461,619 shares of the company traded hands, compared to its average volume of 4,811,002. The stock’s fifty day moving average is $56.54 and its 200 day moving average is $54.82. The stock has a market cap of $56.33 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 2.53 and a beta of 1.39. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. Carrier Global has a 1-year low of $40.28 and a 1-year high of $62.52.

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

Insider Buying and Selling

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the business’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 completion of the transaction, the chief executive officer now owns 422,808 shares in the company, 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 hyperlink. In other news, VP Kevin J. O’connor sold 26,551 shares of the company’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 completion of the transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now 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. 6.95% of the stock is owned by insiders.

Institutional Trading of Carrier Global

Several institutional investors and hedge funds have recently bought and sold shares of CARR. McClarren Financial Advisors Inc. raised its position in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after buying an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in Carrier Global during the 4th quarter worth $25,000. EdgeRock Capital LLC purchased a new position in Carrier Global during the 4th quarter worth $27,000. OFI Invest Asset Management purchased a new position in Carrier Global during the 3rd quarter worth $28,000. Finally, Larson Financial Group LLC raised its position in Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors 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.