Carrier Global (NYSE:CARR) Sets New 12-Month High Following Analyst Upgrade

Carrier Global Co. (NYSE:CARR)’s stock price hit a new 52-week high during trading on Monday after Robert W. Baird raised their price target on the stock from $60.00 to $64.00. Robert W. Baird currently has a neutral rating on the stock. Carrier Global traded as high as $63.91 and last traded at $64.16, with a volume of 674686 shares trading hands. The stock had previously closed at $62.09.

Several other analysts have also weighed in on the stock. Barclays lifted their target price on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. TD Cowen lifted their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Citigroup boosted their price objective on shares of 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 decreased their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, Wells Fargo & Company upped 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, April 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Carrier Global presently has an average rating of “Hold” and an average price target of $62.71.

Insider Transactions at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of the business’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 transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 541,005 shares of company stock worth $30,536,214. Company insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

Several hedge funds have recently bought and sold shares of the stock. McClarren Financial Advisors Inc. grew its holdings in shares of Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in Carrier Global during the 4th quarter valued at $25,000. EdgeRock Capital LLC bought a new position in Carrier Global in the fourth quarter worth about $27,000. Larson Financial Group LLC boosted its position in Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after acquiring an additional 221 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Carrier Global in the 3rd quarter valued at approximately $28,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Up 3.2 %

The firm has a market cap of $57.72 billion, a PE ratio of 44.80, a PEG ratio of 2.61 and a beta of 1.34. The stock has a 50 day simple moving average of $57.53 and a 200-day simple moving average of $55.24. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99.

Carrier Global (NYSE:CARR) last released its quarterly earnings results 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 business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Sell-side analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. Carrier Global’s payout ratio is 53.15%.

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.