Carrier Global (NYSE:CARR) Price Target Increased to $66.00 by Analysts at Wells Fargo & Company

Carrier Global (NYSE:CARR) had its price target hoisted by Wells Fargo & Company from $59.00 to $66.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also commented on the stock. Royal Bank of Canada cut their price objective on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating for the company in a research report on Wednesday, February 7th. Oppenheimer reaffirmed an outperform rating and set a $63.00 price objective on shares of Carrier Global in a research report on Thursday, April 18th. Citigroup upped their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a neutral rating in a research report on Monday, April 8th. Finally, Barclays upped their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the company an overweight rating in a research report on Friday. Three equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $62.00.

Carrier Global Stock Up 1.2 %

CARR stock opened at $60.51 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 2.40. Carrier Global has a 52-week low of $40.28 and a 52-week high of $60.87. The company has a 50-day moving average of $56.54 and a two-hundred day moving average of $54.83. The stock has a market capitalization of $54.47 billion, a price-to-earnings ratio of 42.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.39.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The company had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. As a group, equities research analysts anticipate that Carrier Global will post 2.84 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Buying and Selling

In related news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated Thursday, February 8th. The shares were 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 of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, 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 through this link. 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 transaction of $19,201,832.24. Following the sale, 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. Company insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Several large investors have recently added to or reduced their stakes in CARR. Avior Wealth Management LLC grew its stake in shares of Carrier Global by 41.2% during the third quarter. Avior Wealth Management LLC now owns 983 shares of the company’s stock valued at $54,000 after purchasing an additional 287 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Carrier Global by 205.1% during the third quarter. GHP Investment Advisors Inc. now owns 595 shares of the company’s stock valued at $31,000 after purchasing an additional 400 shares during the last quarter. Advisory Alpha LLC grew its stake in shares of Carrier Global by 5.6% during the third quarter. Advisory Alpha LLC now owns 4,872 shares of the company’s stock valued at $269,000 after purchasing an additional 260 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Carrier Global by 1.9% during the third quarter. Asset Management One Co. Ltd. now owns 430,095 shares of the company’s stock valued at $23,741,000 after purchasing an additional 7,984 shares during the last quarter. Finally, Simplicity Solutions LLC grew its stake in shares of Carrier Global by 5.6% during the third quarter. Simplicity Solutions LLC now owns 29,604 shares of the company’s stock valued at $1,634,000 after purchasing an additional 1,565 shares during the last quarter. 91.00% of the stock is owned by 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.