Carrier Global (NYSE:CARR) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Carrier Global (NYSE:CARR) in a research report released on Thursday morning, Benzinga reports. They currently have a $63.00 target price on the stock.

A number of other analysts have also recently commented on the company. Citigroup upped their price target on Carrier Global from $60.00 to $63.00 and gave the company a neutral rating in a research note on Monday, April 8th. Royal Bank of Canada lowered their price target 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 lowered 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 target on Carrier Global from $71.00 to $78.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Carrier Global has a consensus rating of Hold and an average target price of $61.15.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $53.38 on Thursday. The stock has a market capitalization of $48.05 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.31 and a beta of 1.39. Carrier Global has a 1-year low of $40.28 and a 1-year high of $60.87. 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 business has a 50-day moving average price of $56.41 and a two-hundred day moving average price of $54.75.

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

Insider Buying and Selling

In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction 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 $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the 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 completion of the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. McClarren Financial Advisors Inc. lifted 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 acquiring an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of Carrier Global in the fourth quarter valued at approximately $25,000. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC increased its stake in shares of Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after buying an additional 221 shares during the period. Finally, OFI Invest Asset Management acquired a new position in shares of Carrier Global in the third quarter valued at approximately $28,000. 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.