Carrier Global (NYSE:CARR) PT Raised to $47.00

Carrier Global (NYSE:CARRGet Rating) had its target price hoisted by equities researchers at Wells Fargo & Company from $43.00 to $47.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.41% from the stock’s current price.

Several other brokerages have also recently commented on CARR. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Carrier Global from $44.00 to $46.00 in a research report on Monday, December 5th. TheStreet upgraded shares of Carrier Global from a “c+” rating to a “b” rating in a report on Friday, November 25th. Morgan Stanley boosted their price objective on shares of Carrier Global from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, January 6th. Credit Suisse Group boosted their price objective on shares of Carrier Global to $42.00 in a report on Tuesday, November 1st. Finally, Citigroup boosted their price objective on shares of Carrier Global from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 9th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Carrier Global Stock Up 1.6 %

Shares of NYSE:CARR opened at $42.57 on Thursday. Carrier Global has a one year low of $33.10 and a one year high of $48.86. The company has a 50 day moving average of $43.25 and a 200-day moving average of $40.36. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.62 and a quick ratio of 1.18. The stock has a market cap of $35.60 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 2.19 and a beta of 1.33.

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

Insider Transactions at Carrier Global

In other news, insider Jurgen Timperman sold 102,552 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $43.57, for a total value of $4,468,190.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by insiders.

Institutional Trading of Carrier Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantum Private Wealth LLC raised its position in Carrier Global by 31.6% during the fourth quarter. Quantum Private Wealth LLC now owns 20,931 shares of the company’s stock worth $863,000 after acquiring an additional 5,027 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Carrier Global during the fourth quarter worth $203,000. Veriti Management LLC increased its holdings in shares of Carrier Global by 9.5% in the fourth quarter. Veriti Management LLC now owns 10,103 shares of the company’s stock valued at $417,000 after purchasing an additional 878 shares during the last quarter. Monterey Private Wealth Inc. increased its holdings in shares of Carrier Global by 9.2% in the fourth quarter. Monterey Private Wealth Inc. now owns 9,971 shares of the company’s stock valued at $411,000 after purchasing an additional 839 shares during the last quarter. Finally, Proffitt & Goodson Inc. increased its holdings in shares of Carrier Global by 3.7% in the fourth quarter. Proffitt & Goodson Inc. now owns 7,623 shares of the company’s stock valued at $314,000 after purchasing an additional 272 shares during the last quarter. 85.21% of the stock is owned by institutional investors.

Carrier Global Company Profile

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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.

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