TD Cowen Boosts Carrier Global (NYSE:CARR) Price Target to $70.00

Carrier Global (NYSE:CARR) had its target price hoisted by TD Cowen from $66.00 to $70.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on CARR. Citigroup boosted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a neutral rating in a research report on Monday, April 8th. Wells Fargo & Company boosted their price objective on Carrier Global from $59.00 to $66.00 and gave the stock an equal weight rating in a report on Friday, April 26th. Royal Bank of Canada dropped their price objective on Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Barclays boosted their target price on Carrier Global from $78.00 to $79.00 and gave the stock an overweight rating in a research note on Friday, April 26th. Finally, Oppenheimer lifted their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $62.62.

Carrier Global Trading Down 0.6 %

Shares of CARR stock opened at $61.12 on Monday. Carrier Global has a 1-year low of $40.28 and a 1-year high of $63.79. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The stock has a market cap of $55.07 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 2.64 and a beta of 1.39. The stock has a 50-day moving average of $57.02 and a 200-day moving average of $54.98.

Carrier Global (NYSE:CARR) last announced 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. The business had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, equities research analysts forecast that Carrier Global will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction that occurred on 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 directly owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the 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 in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. Insiders have sold a total of 541,005 shares of company stock valued at $30,536,214 in the last 90 days. Corporate insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC grew its holdings in shares of Carrier Global by 5.8% during the 3rd quarter. Valeo Financial Advisors LLC now owns 10,586 shares of the company’s stock valued at $584,000 after purchasing an additional 584 shares during the last quarter. PDS Planning Inc bought a new stake in shares of Carrier Global in the 3rd quarter valued at about $205,000. ST Germain D J Co. Inc. boosted its holdings in Carrier Global by 9.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 6,355 shares of the company’s stock valued at $351,000 after acquiring an additional 570 shares during the period. Sheets Smith Wealth Management bought a new position in Carrier Global during the 3rd quarter worth approximately $209,000. Finally, Mission Wealth Management LP purchased a new position in Carrier Global in the 3rd quarter worth approximately $326,000. Hedge funds and other 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.