Mizuho Upgrades Carrier Global (NYSE:CARR) to Buy

Carrier Global (NYSE:CARRGet Rating) was upgraded by research analysts at Mizuho from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a $53.00 price objective on the stock, up from their prior price objective of $38.00. Mizuho’s target price suggests a potential upside of 15.54% from the company’s current price.

CARR has been the subject of a number of other reports. TheStreet raised Carrier Global from a “c+” rating to a “b” rating in a research note on Friday, November 25th. Cowen reduced their price objective on Carrier Global from $58.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, October 31st. Morgan Stanley raised their price objective on Carrier Global from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. The Goldman Sachs Group raised their price objective on Carrier Global from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, December 15th. Finally, Wells Fargo & Company raised their price objective on Carrier Global from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, January 5th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.62.

Carrier Global Price Performance

Shares of CARR stock opened at $45.87 on Friday. Carrier Global has a 52-week low of $33.10 and a 52-week high of $51.48. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.18 and a current ratio of 1.62. The firm has a market capitalization of $38.36 billion, a P/E ratio of 11.08, a P/E/G ratio of 2.16 and a beta of 1.33. The stock has a 50 day moving average price of $43.04 and a 200 day moving average price of $40.16.

Carrier Global (NYSE:CARRGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Carrier Global had a return on equity of 28.45% and a net margin of 17.55%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.44 billion. As a group, sell-side analysts predict that Carrier Global will post 2.34 earnings per share for the current year.

Insider Activity

In related news, insider Jurgen Timperman sold 102,552 shares of the business’s stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $43.57, for a total value of $4,468,190.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

Institutional Trading of Carrier Global

Institutional investors have recently bought and sold shares of the business. Nuveen Asset Management LLC grew its stake in shares of Carrier Global by 3.4% in the 3rd quarter. Nuveen Asset Management LLC now owns 17,108,963 shares of the company’s stock valued at $608,395,000 after purchasing an additional 558,801 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of Carrier Global by 3.7% during the second quarter. Fiera Capital Corp now owns 14,986,852 shares of the company’s stock valued at $534,431,000 after acquiring an additional 531,734 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Carrier Global by 8.0% during the third quarter. Dimensional Fund Advisors LP now owns 7,394,883 shares of the company’s stock valued at $262,974,000 after acquiring an additional 550,548 shares during the last quarter. Renaissance Technologies LLC lifted its position in Carrier Global by 25.8% during the second quarter. Renaissance Technologies LLC now owns 6,674,731 shares of the company’s stock worth $238,021,000 after buying an additional 1,367,800 shares during the period. Finally, Burgundy Asset Management Ltd. lifted its position in Carrier Global by 11.9% during the second quarter. Burgundy Asset Management Ltd. now owns 5,162,352 shares of the company’s stock worth $184,089,000 after buying an additional 547,683 shares during the period. 85.21% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Company Profile

(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, cooling, and ventilation needs of residential and commercial customers.

See Also

Analyst Recommendations for Carrier Global (NYSE:CARR)

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