Carrier Global (NYSE:CARR) PT Raised to $66.00 at Wells Fargo & Company

Carrier Global (NYSE:CARR) had its price objective increased by analysts at Wells Fargo & Company from $59.00 to $66.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.09% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Barclays upped their price objective on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup upped their price objective on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada dropped their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, Oppenheimer reiterated an “outperform” rating and set a $63.00 price target on shares of Carrier Global in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.00.

Carrier Global Trading Up 1.2 %

Shares of NYSE CARR opened at $60.50 on Friday. The stock’s 50 day moving average price is $56.54 and its two-hundred day moving average price is $54.83. Carrier Global has a 52-week low of $40.28 and a 52-week high of $60.87. The stock has a market capitalization of $54.46 billion, a P/E ratio of 42.31, a PEG ratio of 2.50 and a beta of 1.39. The company has a quick ratio of 2.40, a current ratio of 1.36 and a debt-to-equity ratio of 1.31.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The firm had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. On average, analysts anticipate that Carrier Global will post 2.84 earnings per share for the current fiscal 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 that occurred 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 sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its stake in shares of Carrier Global by 41.2% during the 3rd quarter. Avior Wealth Management LLC now owns 983 shares of the company’s stock worth $54,000 after acquiring an additional 287 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Carrier Global by 205.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 595 shares of the company’s stock worth $31,000 after acquiring an additional 400 shares in the last quarter. Advisory Alpha LLC boosted its stake in shares of Carrier Global by 5.6% during the 3rd quarter. Advisory Alpha LLC now owns 4,872 shares of the company’s stock worth $269,000 after acquiring an additional 260 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Carrier Global by 1.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 430,095 shares of the company’s stock worth $23,741,000 after acquiring an additional 7,984 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its stake in shares of Carrier Global by 5.6% during the 3rd quarter. Simplicity Solutions LLC now owns 29,604 shares of the company’s stock worth $1,634,000 after acquiring an additional 1,565 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

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.