TD Cowen Raises Carrier Global (NYSE:CARR) Price Target to $70.00

Carrier Global (NYSE:CARR) had its target price increased by TD Cowen from $66.00 to $70.00 in a report released on Monday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

CARR has been the subject of several other reports. Citigroup boosted their price target on Carrier Global from $60.00 to $63.00 and gave the company a neutral rating in a report on Monday, April 8th. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating for the company in a research note on Wednesday, February 7th. Wells Fargo & Company raised their price objective on Carrier Global from $59.00 to $66.00 and gave the stock an equal weight rating in a report on Friday, April 26th. Oppenheimer lifted their price target on shares of Carrier Global from $63.00 to $64.00 and gave the company an outperform rating in a research report on Friday, April 26th. Finally, Barclays increased their price target on Carrier Global from $78.00 to $79.00 and gave the company an overweight rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $62.62.

Carrier Global Stock Down 0.6 %

Carrier Global stock opened at $61.12 on Monday. The firm has a market capitalization of $55.07 billion, a price-to-earnings ratio of 42.74, a price-to-earnings-growth ratio of 2.64 and a beta of 1.39. Carrier Global has a fifty-two week low of $40.28 and a fifty-two week high of $63.79. The stock’s fifty day moving average is $57.02 and its two-hundred day moving average is $54.98. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Analysts predict that Carrier Global will post 2.84 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is currently 53.15%.

Insider Activity at Carrier Global

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 shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global 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 sale, 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. Insiders sold a total of 541,005 shares of company stock valued at $30,536,214 over the last three months. 6.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CARR. Capital Research Global Investors boosted its position in shares of Carrier Global by 3.3% during the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after purchasing an additional 2,961,923 shares in the last quarter. Capital International Investors grew its position in Carrier Global by 0.6% in the fourth quarter. Capital International Investors now owns 81,063,464 shares of the company’s stock worth $4,657,260,000 after acquiring an additional 443,568 shares in the last quarter. Fisher Asset Management LLC increased its position in Carrier Global by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after buying an additional 310,453 shares during the last quarter. Northern Trust Corp raised its stake in shares of Carrier Global by 3.4% in the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock valued at $493,560,000 after acquiring an additional 289,973 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $444,487,000. 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.