Wells Fargo & Company Trims Carrier Global (NYSE:CARR) Target Price to $57.00

Carrier Global (NYSE:CARRFree Report) had its target price decreased by Wells Fargo & Company from $63.00 to $57.00 in a research report report published on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on CARR. Citigroup lifted their target price on Carrier Global from $52.00 to $56.00 and gave the stock a neutral rating in a research report on Monday, December 11th. Royal Bank of Canada reiterated an outperform rating and set a $59.00 target price on shares of Carrier Global in a research report on Monday, December 4th. Wolfe Research downgraded Carrier Global from a peer perform rating to an underperform rating and set a $56.00 target price for the company. in a research report on Thursday, October 12th. Finally, Oppenheimer decreased their target price on Carrier Global from $60.00 to $58.00 and set an outperform rating for the company in a research report on Monday, October 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Carrier Global has an average rating of Hold and an average price target of $58.07.

Get Our Latest Analysis on Carrier Global

Carrier Global Stock Down 0.9 %

NYSE CARR opened at $53.82 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 1.02. The company has a fifty day moving average of $55.85 and a two-hundred day moving average of $54.53. The firm has a market capitalization of $45.16 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 1.89 and a beta of 1.42. Carrier Global has a 52 week low of $40.28 and a 52 week high of $60.04.

Carrier Global (NYSE:CARRGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a net margin of 5.43% and a return on equity of 26.60%. Carrier Global’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, analysts predict that Carrier Global will post 2.72 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Thursday, December 21st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a yield of 1.41%. Carrier Global’s payout ratio is presently 53.90%.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 16,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $57.99, for a total transaction of $956,835.00. Following the completion of the transaction, the vice president now directly owns 89,920 shares of the company’s stock, valued at approximately $5,214,460.80. The sale was disclosed in a filing with the SEC, which is available at this link. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CARR. American Century Companies Inc. grew its holdings in Carrier Global by 29.2% in the 1st quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock valued at $750,000 after buying an additional 3,700 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Carrier Global by 40.1% in the 1st quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock valued at $1,673,000 after buying an additional 10,445 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Carrier Global by 23.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock valued at $343,000 after buying an additional 1,412 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Carrier Global by 22.7% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock valued at $2,992,000 after buying an additional 12,089 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Carrier Global by 10.6% in the 1st quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock valued at $36,078,000 after buying an additional 75,622 shares in the last quarter. 91.47% of the stock is owned by institutional investors and hedge funds.

Carrier Global Company Profile

(Get Free Report)

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.

Further Reading

Analyst Recommendations for Carrier Global (NYSE:CARR)

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