KeyCorp Lowers Carrier Global (NYSE:CARR) Price Target to $54.00

Carrier Global (NYSE:CARR – Get Rating) had its price objective lowered by KeyCorp from $60.00 to $54.00 in a report released on Wednesday, The Fly reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 30.81% from the company’s current price.

Several other research firms have also recently weighed in on CARR. Credit Suisse Group reduced their target price on shares of Carrier Global from $56.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, February 9th. Wells Fargo & Company cut their target price on shares of Carrier Global from $56.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 9th. Vertical Research lowered shares of Carrier Global from a “buy” rating to a “hold” rating and set a $57.00 price target for the company. in a report on Monday, January 3rd. Barclays lowered their target price on shares of Carrier Global from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, April 4th. Finally, Atlantic Securities lowered their target price on shares of Carrier Global from $59.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, February 9th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.82.

Shares of NYSE:CARR opened at $41.28 on Wednesday. The company has a market cap of $35.21 billion, a P/E ratio of 22.07, a P/E/G ratio of 1.89 and a beta of 1.20. The stock’s 50-day moving average is $45.16 and its 200-day moving average is $50.11. Carrier Global has a 52-week low of $41.27 and a 52-week high of $58.89. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.42 and a current ratio of 1.72.

Carrier Global (NYSE:CARR – Get Rating) last issued its quarterly earnings results on Tuesday, February 8th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.06. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $4.82 billion. Carrier Global had a return on equity of 28.50% and a net margin of 8.07%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. As a group, equities analysts predict that Carrier Global will post 2.27 EPS for the current year.

In other Carrier Global news, VP Kyle Crockett sold 3,682 shares of the business’s stock in a transaction dated Friday, February 4th. The shares were sold at an average price of $45.73, for a total transaction of $168,377.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CARR. Morgan Stanley increased its stake in shares of Carrier Global by 39.9% during the 2nd quarter. Morgan Stanley now owns 5,577,479 shares of the company’s stock worth $271,065,000 after purchasing an additional 1,589,475 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Carrier Global by 210.5% during the 2nd quarter. Bank of America Corp DE now owns 23,783,530 shares of the company’s stock worth $1,155,879,000 after purchasing an additional 16,122,688 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Carrier Global by 11.1% during the 3rd quarter. Park Avenue Securities LLC now owns 8,495 shares of the company’s stock worth $440,000 after purchasing an additional 851 shares during the last quarter. Westpac Banking Corp grew its stake in Carrier Global by 4.6% in the 3rd quarter. Westpac Banking Corp now owns 97,412 shares of the company’s stock valued at $5,042,000 after buying an additional 4,312 shares during the last quarter. Finally, Phoenix Holdings Ltd. grew its stake in Carrier Global by 4.9% in the 3rd quarter. Phoenix Holdings Ltd. now owns 24,261 shares of the company’s stock valued at $1,278,000 after buying an additional 1,125 shares during the last quarter. Institutional investors own 84.12% of the company’s stock.

About Carrier Global (Get Rating)

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

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