Carrier Global (NYSE:CARR) Upgraded to “Peer Perform” at Wolfe Research

Carrier Global (NYSE:CARR) was upgraded by equities research analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating in a research report issued to clients and investors on Friday, Briefing.com reports.

A number of other research analysts have also recently commented on the stock. Robert W. Baird dropped their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Oppenheimer increased their target price on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Bank of America raised shares of Carrier Global from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $55.00 to $72.00 in a report on Monday, July 29th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Royal Bank of Canada raised their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.85.

Carrier Global Stock Down 0.1 %

CARR stock opened at $69.02 on Friday. The company has a market cap of $62.19 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 2.90 and a beta of 1.32. The business has a 50-day simple moving average of $66.85 and a 200 day simple moving average of $62.37. Carrier Global has a 52 week low of $45.68 and a 52 week high of $73.06. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

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

Insider Buying and Selling at Carrier Global

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 transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Several large investors have recently modified their holdings of CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global in the 2nd quarter worth $25,000. Meeder Asset Management Inc. lifted its holdings in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares in the last quarter. EdgeRock Capital LLC bought a new position in Carrier Global during the 2nd quarter valued at $32,000. United Community Bank bought a new position in Carrier Global during the 4th quarter valued at $34,000. Finally, Register Financial Advisors LLC bought a new position in Carrier Global during the 1st quarter valued at $34,000. Institutional investors and hedge funds 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.