Carrier Global (NYSE:CARR) PT Raised to $88.00 at Oppenheimer

Carrier Global (NYSE:CARR) had its price objective lifted by Oppenheimer from $74.00 to $88.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 9.95% from the company’s current price.

A number of other equities analysts also recently commented on CARR. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Wells Fargo & Company raised their target price on shares of Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Robert W. Baird lowered their price objective 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. Finally, Royal Bank of Canada upped their target price on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Carrier Global Trading Down 0.6 %

Shares of CARR opened at $80.04 on Wednesday. The stock has a market capitalization of $72.12 billion, a P/E ratio of 55.97, a PEG ratio of 3.23 and a beta of 1.32. Carrier Global has a twelve month low of $45.68 and a twelve month high of $81.64. 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 fifty day simple moving average of $71.82 and a two-hundred day simple moving average of $65.37.

Carrier Global (NYSE:CARR) last posted 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. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the business posted $0.79 earnings per share. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts anticipate that Carrier Global will post 2.84 EPS for the current year.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly 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 is available through this hyperlink. Insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently modified their holdings of the stock. Bank of Nova Scotia raised its holdings in shares of Carrier Global by 14.5% in the fourth quarter. Bank of Nova Scotia now owns 101,937 shares of the company’s stock worth $5,856,000 after buying an additional 12,930 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Carrier Global by 8.8% in the 4th quarter. Jones Financial Companies Lllp now owns 4,345 shares of the company’s stock valued at $250,000 after acquiring an additional 353 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Carrier Global in the 4th quarter valued at $341,000. NEOS Investment Management LLC increased its position in Carrier Global by 32.8% during the fourth quarter. NEOS Investment Management LLC now owns 11,869 shares of the company’s stock worth $682,000 after purchasing an additional 2,934 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of Carrier Global by 5.6% during the 4th quarter. Rafferty Asset Management LLC now owns 70,371 shares of the company’s stock valued at $4,043,000 after buying an additional 3,756 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.