Carrier Global (NYSE:CARR) PT Raised to $90.00 at Barclays

Carrier Global (NYSE:CARR) had its target price boosted by research analysts at Barclays from $81.00 to $90.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 12.44% from the stock’s current price.

CARR has been the topic of several other research reports. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Wells Fargo & Company upped their price objective on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price objective on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Carrier Global Stock Performance

CARR opened at $80.04 on Wednesday. Carrier Global has a 52-week low of $45.68 and a 52-week high of $81.64. The firm has a market capitalization of $72.12 billion, a PE ratio of 55.97, a PEG ratio of 3.23 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The business’s 50-day simple moving average is $71.82 and its 200 day simple moving average is $65.37.

Carrier Global (NYSE:CARR) last released its 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 business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. Carrier Global’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts expect 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 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 transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carrier Global

A number of large investors have recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Carrier Global by 5.5% during the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after buying an additional 13,677 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Carrier Global during the fourth quarter worth approximately $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after buying an additional 130,192 shares in the last quarter. Finally, GLOBALT Investments LLC GA acquired a new stake in Carrier Global during the fourth quarter worth approximately $859,000. 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.