Oppenheimer Raises Carrier Global (NYSE:CARR) Price Target to $64.00

Carrier Global (NYSE:CARR) had its price target raised by investment analysts at Oppenheimer from $63.00 to $64.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 6.05% from the stock’s previous close.

Several other equities analysts have also commented on CARR. Citigroup raised their price objective on 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 raised 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. 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 report on Wednesday, February 7th. Finally, Barclays raised their price objective on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday. Three 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.com, Carrier Global has an average rating of “Hold” and an average price target of $62.00.

Carrier Global Price Performance

Shares of CARR stock traded up $0.54 during trading on Friday, hitting $60.35. The company had a trading volume of 3,628,637 shares, compared to its average volume of 4,778,907. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The stock’s 50-day moving average is $56.41 and its two-hundred day moving average is $54.79. The stock has a market capitalization of $54.32 billion, a price-to-earnings ratio of 38.21, a price-to-earnings-growth ratio of 2.31 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:CARR) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. As a group, analysts predict that Carrier Global will post 2.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carrier Global 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 transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated 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 of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing 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 that occurred 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 completion of the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

A number of large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after acquiring an additional 2,961,923 shares during the last quarter. Capital International Investors increased its position in shares of Carrier Global by 0.6% during the 4th quarter. Capital International Investors now owns 81,063,464 shares of the company’s stock valued at $4,657,260,000 after purchasing an additional 443,568 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Carrier Global by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock valued at $764,500,000 after purchasing an additional 310,453 shares during the last quarter. Northern Trust Corp increased its position in shares of Carrier Global by 3.4% during the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock valued at $493,560,000 after purchasing an additional 289,973 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Carrier Global during the 4th quarter valued at approximately $444,487,000. 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.