Oppenheimer Reiterates “Outperform” Rating for Carrier Global (NYSE:CARR)

Carrier Global (NYSE:CARR)‘s stock had its “outperform” rating restated by analysts at Oppenheimer in a note issued to investors on Thursday, Benzinga reports. They presently have a $63.00 price target on the stock. Oppenheimer’s target price suggests a potential upside of 17.65% from the company’s previous close.

CARR has been the topic of several other research reports. Wells Fargo & Company decreased their price target on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Barclays boosted their target price on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada reduced their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.15.

Carrier Global Price Performance

NYSE:CARR opened at $53.55 on Thursday. 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 company has a 50-day moving average of $56.36 and a 200-day moving average of $54.74. Carrier Global has a 52 week low of $40.28 and a 52 week high of $60.87. The company has a market capitalization of $48.20 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.29 and a beta of 1.39.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. As a group, equities research analysts anticipate that Carrier Global will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Carrier Global

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in shares of Carrier Global by 29.2% during the first quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock worth $750,000 after purchasing an additional 3,700 shares during the period. Panagora Asset Management Inc. raised its position in shares of Carrier Global by 40.1% in the 1st quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock valued at $1,673,000 after acquiring an additional 10,445 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Carrier Global by 23.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock worth $343,000 after acquiring an additional 1,412 shares during the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Carrier Global by 22.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock valued at $2,992,000 after purchasing an additional 12,089 shares during the period. Finally, Baird Financial Group Inc. increased its stake in Carrier Global by 10.6% in the first quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock valued at $36,078,000 after purchasing an additional 75,622 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

About Carrier Global

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.