Carrier Global’s (CARR) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Carrier Global (NYSE:CARR) in a research note released on Thursday, Benzinga reports. Oppenheimer currently has a $63.00 price objective on the stock.

Several other research firms have also issued reports on CARR. Barclays raised their price objective on Carrier Global from $71.00 to $78.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Royal Bank of Canada lowered their price objective on Carrier Global from $63.00 to $60.00 and set an outperform rating for the company in a research note on Wednesday, February 7th. Wells Fargo & Company lowered their price objective on Carrier Global from $63.00 to $57.00 and set an equal weight rating for the company in a research note on Wednesday, February 7th. Finally, Citigroup raised their price objective on Carrier Global from $60.00 to $63.00 and gave the company a neutral rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $61.15.

Carrier Global Stock Performance

NYSE CARR opened at $53.38 on Thursday. The stock has a market capitalization of $48.05 billion, a PE ratio of 33.79, a P/E/G ratio of 2.31 and a beta of 1.39. The business has a 50 day simple moving average of $56.41 and a two-hundred day simple moving average of $54.75. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. Carrier Global has a 1-year low of $40.28 and a 1-year high of $60.87.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, research analysts predict that Carrier Global will post 2.82 EPS for the current fiscal year.

Insider Buying and Selling at Carrier Global

In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction on 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 transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors grew its stake in Carrier Global by 3.3% during the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after buying an additional 2,961,923 shares during the last quarter. Capital International Investors lifted its position in Carrier Global by 0.6% during the 4th quarter. Capital International Investors now owns 81,063,464 shares of the company’s stock worth $4,657,260,000 after acquiring an additional 443,568 shares during the period. State Street Corp lifted its position in Carrier Global by 0.6% during the 1st quarter. State Street Corp now owns 33,147,448 shares of the company’s stock worth $1,516,493,000 after acquiring an additional 206,839 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Carrier Global by 712.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock worth $799,843,000 after acquiring an additional 15,330,140 shares during the period. Finally, Geode Capital Management LLC lifted its position in Carrier Global by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 17,377,066 shares of the company’s stock worth $793,207,000 after acquiring an additional 342,215 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.