Carrier Global (NYSE:CARR) Upgraded by Wolfe Research to “Peer Perform”

Wolfe Research upgraded shares of Carrier Global (NYSE:CARR) from an underperform rating to a peer perform rating in a report released on Friday, MarketBeat Ratings reports.

A number of other research firms also recently commented on CARR. Bank of America upgraded Carrier Global from an underperform rating to a neutral rating and lifted their target price for the company from $55.00 to $72.00 in a research report on Monday, July 29th. Citigroup upgraded Carrier Global from a neutral rating to a buy rating and lifted their target price for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Barclays lifted their target price on Carrier Global from $79.00 to $81.00 and gave the company an overweight rating in a research report on Friday, June 14th. Oppenheimer lifted their target price on Carrier Global from $70.00 to $74.00 and gave the company an outperform rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada lifted their target price on Carrier Global from $72.00 to $79.00 and gave the company an outperform rating in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Carrier Global presently has an average rating of Moderate Buy and a consensus price target of $69.38.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $69.53 on Friday. Carrier Global has a one year low of $45.68 and a one year high of $73.06. The company has a market cap of $62.65 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 2.90 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The business’s 50 day moving average price is $66.98 and its 200 day moving average price is $62.48.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the business posted $0.79 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, research analysts predict that Carrier Global will post 2.84 EPS for the current year.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB boosted its position in shares of Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after acquiring an additional 43,002 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Carrier Global during the 4th quarter worth about $973,000. Versor Investments LP acquired a new position in shares of Carrier Global during the 4th quarter worth about $1,132,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Carrier Global by 50.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after purchasing an additional 130,192 shares during the last quarter. Finally, GLOBALT Investments LLC GA purchased a new stake in shares of Carrier Global in the 4th quarter valued at about $859,000. 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.