Carrier Global (NYSE:CARR) PT Raised to $82.00 at Wells Fargo & Company

Carrier Global (NYSE:CARR) had its price objective boosted by Wells Fargo & Company from $73.00 to $82.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.43% from the company’s current price.

A number of other brokerages have also weighed in on CARR. Oppenheimer boosted their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Barclays boosted their price target on Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada boosted their price target on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.80.

Carrier Global Price Performance

CARR opened at $80.84 on Monday. The stock has a 50-day moving average price of $72.36 and a 200-day moving average price of $65.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The firm has a market cap of $72.84 billion, a PE ratio of 56.23, a P/E/G ratio of 3.23 and a beta of 1.32. Carrier Global has a 1 year low of $45.68 and a 1 year high of $81.64.

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

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on 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 directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Greenhouse Wealth Management LLC purchased a new stake in Carrier Global during the 3rd quarter valued at $212,000. Brookstone Capital Management raised its holdings in Carrier Global by 9.4% during the 3rd quarter. Brookstone Capital Management now owns 5,999 shares of the company’s stock valued at $483,000 after buying an additional 513 shares during the period. Country Trust Bank purchased a new stake in Carrier Global during the 3rd quarter valued at $40,000. Atomi Financial Group Inc. raised its holdings in Carrier Global by 20.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 5,528 shares of the company’s stock valued at $445,000 after buying an additional 956 shares during the period. Finally, Axiom Advisory LLC purchased a new stake in Carrier Global during the 3rd quarter valued at $258,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

About Carrier Global

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.