Carrier Global Co. (NYSE:CARR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Carrier Global Co. (NYSE:CARR) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $69.38.

A number of equities research analysts recently weighed in on the company. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Royal Bank of Canada boosted their price objective on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday. Robert W. Baird reduced their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Oppenheimer boosted their price objective on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Olistico Wealth LLC acquired a new position in Carrier Global during the 2nd quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new position in Carrier Global during the 4th quarter worth approximately $27,000. Meeder Asset Management Inc. raised its stake in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the period. United Community Bank acquired a new position in Carrier Global during the 4th quarter worth approximately $34,000. Finally, Register Financial Advisors LLC acquired a new position in Carrier Global during the 1st quarter worth approximately $34,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Carrier Global stock opened at $69.53 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global has a 52 week low of $45.68 and a 52 week high of $73.06. The stock has a market capitalization of $62.65 billion, a P/E ratio of 48.62, a price-to-earnings-growth ratio of 2.90 and a beta of 1.32. The stock has a fifty day moving average of $66.98 and a 200-day moving average of $62.48.

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

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.