Analysts Set Carrier Global Co. (NYSE:CARR) PT at $66.77

Shares of Carrier Global Co. (NYSE:CARR) have been assigned an average rating of “Hold” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $66.77.

CARR has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $72.00 price target on shares of Carrier Global in a report on Friday, July 26th. Barclays increased their price target on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Wells Fargo & Company increased their price target on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $64.28 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $57.92 billion, a PE ratio of 44.95, a P/E/G ratio of 2.63 and a beta of 1.32. Carrier Global has a twelve month low of $45.68 and a twelve month high of $70.09. The company has a 50-day moving average price of $64.68 and a two-hundred day moving average price of $60.66.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. Equities analysts forecast that Carrier Global will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, June 21st. Carrier Global’s payout ratio is currently 53.15%.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. McClarren Financial Advisors Inc. grew its holdings in shares of Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Carrier Global in the fourth quarter valued at $25,000. Olistico Wealth LLC bought a new stake in Carrier Global in the second quarter valued at $25,000. EdgeRock Capital LLC bought a new stake in Carrier Global in the fourth quarter valued at $27,000. Finally, Meeder Asset Management Inc. boosted its holdings in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares in the last quarter. 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.