Carrier Global (NYSE:CARR) Price Target Raised to $63.00 at Citigroup

Carrier Global (NYSE:CARR) had its price objective hoisted by Citigroup from $60.00 to $63.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada decreased their price target on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company dropped their price target 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, Barclays upped their price objective on Carrier Global from $71.00 to $78.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $59.86.

Carrier Global Stock Up 2.5 %

Shares of NYSE:CARR opened at $57.86 on Monday. The firm has a fifty day moving average price of $56.34 and a two-hundred day moving average price of $54.67. The company has a market cap of $52.08 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.38 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. Carrier Global has a one year low of $40.28 and a one year high of $60.87.

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

Insider Buying and Selling 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 completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CARR. Price T Rowe Associates Inc. MD increased its position in shares of Carrier Global by 712.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock valued at $799,843,000 after buying an additional 15,330,140 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Carrier Global by 83,676.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock worth $346,925,000 after acquiring an additional 8,400,264 shares during the period. Norges Bank bought a new position in shares of Carrier Global in the 4th quarter worth approximately $444,487,000. C WorldWide Group Holding A S purchased a new position in shares of Carrier Global in the 3rd quarter valued at approximately $260,761,000. Finally, Victory Capital Management Inc. boosted its position in shares of Carrier Global by 1,140.8% during the fourth quarter. Victory Capital Management Inc. now owns 4,138,117 shares of the company’s stock valued at $170,697,000 after purchasing an additional 3,804,624 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.