Carrier Global (NYSE:CARR) Price Target Raised to $71.00

Carrier Global (NYSE:CARR) had its price target lifted by equities research analysts at Oppenheimer from $64.00 to $71.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 12.08% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. TD Cowen increased their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Robert W. Baird raised their price objective on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays upped their target price on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Wells Fargo & Company lifted their price target on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and upped their price objective for the company from $65.00 to $74.00 in a report on Monday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Carrier Global has an average rating of “Hold” and an average target price of $64.14.

Carrier Global Stock Performance

Shares of CARR stock traded up $0.49 during trading hours on Thursday, reaching $63.35. The stock had a trading volume of 154,363 shares, compared to its average volume of 4,464,177. The firm has a market capitalization of $57.08 billion, a PE ratio of 44.30, a price-to-earnings-growth ratio of 2.58 and a beta of 1.33. The firm has a 50-day simple moving average of $62.62 and a 200-day simple moving average of $58.58. Carrier Global has a twelve month low of $45.68 and a twelve month high of $66.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, April 25th. The company reported $0.62 EPS 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 firm had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. As a group, equities analysts forecast that Carrier Global will post 2.85 earnings per share for the current year.

Insider Activity at Carrier Global

In other news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the transaction, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,954 shares of company stock worth $16,650,050. 6.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its stake in shares of Carrier Global by 72.1% during the 3rd quarter. Federated Hermes Inc. now owns 3,899 shares of the company’s stock worth $215,000 after purchasing an additional 1,634 shares during the last quarter. Natixis Advisors L.P. increased its position in Carrier Global by 24.3% during the third quarter. Natixis Advisors L.P. now owns 201,904 shares of the company’s stock worth $11,145,000 after buying an additional 39,508 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Carrier Global by 46.5% during the third quarter. O Shaughnessy Asset Management LLC now owns 30,639 shares of the company’s stock valued at $1,691,000 after buying an additional 9,719 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Carrier Global by 94.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 62,214 shares of the company’s stock worth $3,434,000 after acquiring an additional 30,204 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in shares of Carrier Global by 12.8% during the 3rd quarter. Bank of Nova Scotia now owns 89,007 shares of the company’s stock worth $4,913,000 after acquiring an additional 10,114 shares in the last quarter. Hedge funds and other 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.