Carrier Global (NYSE:CARR) Upgraded at Citigroup

Citigroup upgraded shares of Carrier Global (NYSE:CARR) from a neutral rating to a buy rating in a report released on Monday, MarketBeat.com reports. Citigroup currently has $74.00 target price on the stock, up from their previous target price of $65.00.

Other research analysts have also issued research reports about the company. Barclays lifted their target price on Carrier Global from $79.00 to $81.00 and gave the stock an overweight rating in a research report on Friday, June 14th. Wells Fargo & Company boosted their price objective on Carrier Global from $59.00 to $66.00 and gave the company an equal weight rating in a research report on Friday, April 26th. Oppenheimer boosted their price objective on Carrier Global from $63.00 to $64.00 and gave the company an outperform rating in a research report on Friday, April 26th. TD Cowen boosted their price objective on Carrier Global from $66.00 to $70.00 and gave the company a buy rating in a research report on Monday, April 29th. Finally, Robert W. Baird boosted their price objective on Carrier Global from $60.00 to $64.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Carrier Global currently has an average rating of Hold and an average target price of $64.14.

Carrier Global Price Performance

Shares of NYSE CARR opened at $63.26 on Monday. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $66.50. The business has a 50 day moving average price of $62.79 and a two-hundred day moving average price of $58.61. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The firm has a market cap of $57.00 billion, a PE ratio of 44.24, a price-to-earnings-growth ratio of 2.58 and a beta of 1.33.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.50 by $0.12. The company had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Sell-side analysts expect that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is currently 53.15%.

Insider Buying and Selling at Carrier Global

In other news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The disclosure for this sale can be found here. Insiders have sold 262,954 shares of company stock valued at $16,650,050 in the last quarter. Corporate insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

Institutional investors and hedge funds have recently modified their holdings of the stock. Modera Wealth Management LLC grew its holdings in shares of Carrier Global by 19.4% during the third quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after buying an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc grew its holdings in shares of Carrier Global by 9.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after buying an additional 476 shares in the last quarter. Andrew Hill Investment Advisors Inc. purchased a new position in shares of Carrier Global during the fourth quarter valued at $2,081,000. Nomura Holdings Inc. purchased a new position in shares of Carrier Global during the fourth quarter valued at $973,000. Finally, AIA Group Ltd grew its holdings in shares of Carrier Global by 16.5% during the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after buying an additional 14,003 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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.