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

Carrier Global Co. (NYSE:CARR) shares hit a new 52-week high during mid-day trading on Monday after Robert W. Baird raised their price target on the stock from $60.00 to $64.00. Robert W. Baird currently has a neutral rating on the stock. Carrier Global traded as high as $63.91 and last traded at $64.16, with a volume of 674686 shares trading hands. The stock had previously closed at $62.09.

CARR has been the subject of a number of other research reports. Wells Fargo & Company increased their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Citigroup lifted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen raised their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Oppenheimer lifted their price objective on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada lowered their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.71.

Insider Buying and Selling at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the firm’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 transaction of $1,427,647.27. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. Insiders sold 541,005 shares of company stock valued at $30,536,214 over the last 90 days. 6.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds have recently added to or reduced their stakes in the stock. Delaney Dennis R bought a new stake in shares of Carrier Global during the first quarter valued at about $580,000. Broderick Brian C bought a new stake in shares of Carrier Global during the first quarter valued at about $1,186,000. Hemenway Trust Co LLC bought a new stake in shares of Carrier Global during the first quarter valued at about $6,288,000. Howland Capital Management LLC bought a new stake in shares of Carrier Global during the first quarter valued at about $325,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Carrier Global by 10.0% during the first quarter. Geneos Wealth Management Inc. now owns 2,694 shares of the company’s stock valued at $157,000 after purchasing an additional 244 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Up 3.3 %

The business’s 50 day moving average is $57.32 and its two-hundred day moving average is $55.14. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $57.81 billion, a P/E ratio of 43.42, a PEG ratio of 2.61 and a beta of 1.34.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. Carrier Global’s dividend payout ratio is currently 53.15%.

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.