Carrier Global (NYSE:CARR) Price Target Increased to $78.00 by Analysts at Barclays

Carrier Global (NYSE:CARRFree Report) had its price target increased by Barclays from $71.00 to $78.00 in a research report report published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Citigroup increased their price target on shares of Carrier Global from $52.00 to $56.00 and gave the company a neutral rating in a research report on Monday, December 11th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $63.00 to $57.00 and set an equal weight rating on the stock in a research report on Wednesday, February 7th. Finally, 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. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $59.36.

Read Our Latest Research Report on CARR

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $56.79 on Tuesday. The firm has a fifty day moving average of $56.26 and a two-hundred day moving average of $54.58. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. The stock has a market capitalization of $51.12 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 2.44 and a beta of 1.39. Carrier Global has a 52 week low of $40.28 and a 52 week high of $60.87.

Carrier Global (NYSE:CARRGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates 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 firm earned $0.40 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts predict that Carrier Global will post 2.82 EPS for the current year.

Insider Activity

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction that occurred on 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 owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated 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 in the company, 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

Several institutional investors have recently made changes to their positions in CARR. McClarren Financial Advisors Inc. grew its stake 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 valued at $25,000 after buying an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Carrier Global in the fourth quarter valued at $25,000. Covestor Ltd lifted its stake in Carrier Global by 121.2% in the first quarter. Covestor Ltd now owns 553 shares of the company’s stock valued at $25,000 after acquiring an additional 303 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the 4th quarter valued at about $27,000. Finally, OFI Invest Asset Management bought a new stake in shares of Carrier Global in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

About Carrier Global

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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.

Further Reading

Analyst Recommendations for Carrier Global (NYSE:CARR)

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