Carrier Global (NYSE:CARR) Price Target Raised to $79.00 at Barclays

Carrier Global (NYSE:CARR) had its price target upped by stock analysts at Barclays from $78.00 to $79.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 30.58% from the company’s previous close.

A number of other equities analysts also recently weighed in on CARR. Citigroup increased their price target on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada cut 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 note on Wednesday, February 7th. Wells Fargo & Company cut their price target on shares of 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. Finally, Oppenheimer reissued an “outperform” rating and issued a $63.00 target price on shares of Carrier Global in a research note on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.00.

Carrier Global Stock Up 1.2 %

Shares of NYSE CARR opened at $60.50 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.40 and a current ratio of 1.36. The firm has a market cap of $54.46 billion, a P/E ratio of 42.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.39. Carrier Global has a 1 year low of $40.28 and a 1 year high of $60.87. The firm’s 50 day moving average price is $56.54 and its 200 day moving average price is $54.83.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The company had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. As a group, sell-side analysts anticipate that Carrier Global will post 2.84 earnings per share for the current year.

Insider Activity at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. grew its holdings in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Carrier Global during the 4th quarter worth $25,000. EdgeRock Capital LLC acquired a new position in Carrier Global during the 4th quarter worth $27,000. OFI Invest Asset Management acquired a new position in Carrier Global during the 3rd quarter worth $28,000. Finally, Larson Financial Group LLC grew its holdings in Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after acquiring an additional 221 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Company Profile

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.