Carrier Global (NYSE:CARR) Receives “Buy” Rating from Citigroup

Carrier Global (NYSE:CARR)‘s stock had its “buy” rating reiterated by stock analysts at Citigroup in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $89.00 target price on the stock, up from their prior target price of $82.00. Citigroup’s price objective would suggest a potential upside of 16.16% from the stock’s previous close.

CARR has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Robert W. Baird lifted their price objective on Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. Melius Research raised Carrier Global to a “hold” rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. Finally, Mizuho set a $72.00 price objective on Carrier Global in a research report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.82.

Carrier Global Price Performance

Carrier Global stock opened at $76.62 on Monday. The stock’s fifty day moving average price is $72.66 and its two-hundred day moving average price is $67.65. Carrier Global has a one year low of $54.22 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. The firm has a market cap of $65.68 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 2.09 and a beta of 1.31.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter last year, the company posted $0.51 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, research analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the sale, the director owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Syon Capital LLC increased its stake in Carrier Global by 2.2% in the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company’s stock valued at $484,000 after acquiring an additional 155 shares during the last quarter. Lindbrook Capital LLC increased its stake in Carrier Global by 1.3% in the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after acquiring an additional 156 shares during the last quarter. Code Waechter LLC increased its stake in Carrier Global by 5.1% in the first quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock valued at $214,000 after acquiring an additional 164 shares during the last quarter. Abacus Wealth Partners LLC increased its stake in Carrier Global by 4.3% in the second quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock valued at $291,000 after acquiring an additional 165 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in Carrier Global by 2.9% in the first quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company’s stock valued at $424,000 after acquiring an additional 168 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

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.