Oppenheimer Increases Carrier Global (NYSE:CARR) Price Target to $64.00

Carrier Global (NYSE:CARR) had its target price increased by Oppenheimer from $63.00 to $64.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 5.79% from the stock’s previous close.

A number of other research firms have also recently weighed in on CARR. Barclays increased their price target on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada dropped their price objective 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. Citigroup lifted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company increased their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.00.

Carrier Global Stock Performance

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

Carrier Global (NYSE:CARR) last announced 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 firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. As a group, equities analysts forecast that Carrier Global will post 2.84 earnings per share for the current year.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred 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 owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred 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 owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Large investors have recently modified their holdings of the stock. McClarren Financial Advisors Inc. grew its position in shares of 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 buying an additional 202 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Carrier Global during the 4th quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth approximately $27,000. Larson Financial Group LLC grew its position in shares of 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 buying an additional 221 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Carrier Global during the 3rd quarter worth approximately $28,000. 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.