Carrier Global (NYSE:CARR) PT Raised to $78.00 at Barclays

Carrier Global (NYSE:CARR) had its price objective hoisted by stock analysts at Barclays from $71.00 to $78.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 36.99% from the stock’s previous close.

Several other research firms have also recently weighed in on CARR. Royal Bank of Canada decreased their target price on 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 decreased their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, Citigroup boosted their price objective on Carrier Global from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.36.

Carrier Global Stock Up 0.2 %

Shares of NYSE:CARR opened at $56.94 on Tuesday. The business has a 50-day moving average price of $56.30 and a 200 day moving average price of $54.60. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $51.25 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.41 and a beta of 1.39. Carrier Global has a 12-month low of $40.28 and a 12-month high of $60.87.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. Carrier Global’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. Sell-side analysts expect that Carrier Global will post 2.82 EPS for the current year.

Insider Activity at Carrier Global

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was 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 owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was 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 owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was 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 directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently modified their holdings of CARR. General Partner Inc. raised its position in Carrier Global by 8.7% during the first quarter. General Partner Inc. now owns 6,520 shares of the company’s stock valued at $379,000 after buying an additional 520 shares during the period. Nomura Holdings Inc. acquired a new position in Carrier Global during the fourth quarter valued at $973,000. HighPoint Advisor Group LLC acquired a new position in Carrier Global during the fourth quarter valued at $1,641,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Carrier Global during the fourth quarter valued at $4,714,000. Finally, Wahed Invest LLC grew its stake in Carrier Global by 8.0% in the fourth quarter. Wahed Invest LLC now owns 14,222 shares of the company’s stock valued at $817,000 after purchasing an additional 1,049 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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.