Carrier Global Co. (NYSE:CARR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Carrier Global Co. (NYSE:CARRGet Free Report) have received a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $59.36.

CARR has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company dropped their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Citigroup raised their target price on Carrier Global from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Finally, Barclays raised their target price on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday.

Check Out Our Latest Research Report on CARR

Carrier Global Stock Down 1.1 %

Shares of CARR stock opened at $56.79 on Wednesday. The stock’s 50-day simple moving average is $56.26 and its 200-day simple moving average is $54.58. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. The firm has a market capitalization of $51.12 billion, a PE ratio of 35.94, a P/E/G ratio of 2.44 and a beta of 1.39. Carrier Global has a fifty-two week low of $40.28 and a fifty-two week high of $60.87.

Carrier Global (NYSE:CARRGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. Equities analysts expect that Carrier Global will post 2.82 earnings per share for the current year.

Insider Activity

In other news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently added to or reduced their stakes in the stock. General Partner Inc. increased its stake in Carrier Global by 8.7% during the first quarter. General Partner Inc. now owns 6,520 shares of the company’s stock worth $379,000 after acquiring an additional 520 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Carrier Global during the fourth quarter worth $973,000. HighPoint Advisor Group LLC acquired a new stake in Carrier Global during the fourth quarter worth $1,641,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Carrier Global during the fourth quarter worth $4,714,000. Finally, Wahed Invest LLC increased its stake in Carrier Global by 8.0% during the fourth quarter. Wahed Invest LLC now owns 14,222 shares of the company’s stock worth $817,000 after acquiring an additional 1,049 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

About Carrier Global

(Get Free Report

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.

Further Reading

Analyst Recommendations for Carrier Global (NYSE:CARR)

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