Carrier Global (NYSE:CARR) Price Target Raised to $66.00 at Wells Fargo & Company

Carrier Global (NYSE:CARR) had its price objective boosted by Wells Fargo & Company from $59.00 to $66.00 in a report published on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating for the company in a research report on Wednesday, February 7th. Oppenheimer restated an outperform rating and set a $63.00 target price on shares of Carrier Global in a research report on Thursday, April 18th. Citigroup upped their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Finally, Barclays upped their target price on shares of Carrier Global from $78.00 to $79.00 and gave the stock an overweight rating in a research report on Friday. Three 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $62.62.

Carrier Global Stock Performance

CARR opened at $62.77 on Friday. The firm has a market cap of $56.50 billion, a P/E ratio of 43.90, a PEG ratio of 2.53 and a beta of 1.39. Carrier Global has a 1-year low of $40.28 and a 1-year high of $62.88. The company has a 50 day simple moving average of $56.72 and a two-hundred day simple moving average of $54.88. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The firm had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Equities analysts forecast that Carrier Global will post 2.84 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Activity

In other news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. increased its stake in Carrier Global by 0.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock worth $1,119,000 after buying an additional 181 shares during the period. Sunbelt Securities Inc. grew its holdings in Carrier Global by 2.3% during the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after acquiring an additional 182 shares in the last quarter. Graypoint LLC grew its holdings in Carrier Global by 1.9% during the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after acquiring an additional 184 shares in the last quarter. Sovereign Financial Group Inc. grew its holdings in Carrier Global by 4.7% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock worth $243,000 after acquiring an additional 188 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in Carrier Global by 2.3% during the 1st quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock worth $517,000 after acquiring an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.