Carrier Global (NYSE:CARR) Price Target Increased to $64.00 by Analysts at Robert W. Baird

Carrier Global (NYSE:CARR) had its price target raised by Robert W. Baird from $60.00 to $64.00 in a research note published on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other analysts have also recently commented on the stock. Oppenheimer upped their target price on shares of Carrier Global from $63.00 to $64.00 and gave the company an outperform rating in a research report on Friday, April 26th. Citigroup increased their price target 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. TD Cowen increased their price target on Carrier Global from $66.00 to $70.00 and gave the stock a buy rating in a report on Monday, April 29th. Royal Bank of Canada decreased 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 lifted their price target on shares of Carrier Global from $78.00 to $79.00 and gave the company an overweight rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $62.71.

Carrier Global Price Performance

NYSE:CARR traded up $1.15 on Friday, reaching $62.09. The stock had a trading volume of 3,622,875 shares, compared to its average volume of 4,988,253. The company has a market capitalization of $55.94 billion, a P/E ratio of 43.42, a price-to-earnings-growth ratio of 2.56 and a beta of 1.34. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. Carrier Global has a 1-year low of $40.28 and a 1-year high of $63.79. The stock has a fifty day moving average price of $57.32 and a 200-day moving average price of $55.09.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Research analysts forecast that Carrier Global will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling

In related news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David L. Gitlin sold 354,539 shares of the 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 541,005 shares of company stock valued at $30,536,214. Company insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. McClarren Financial Advisors Inc. increased its position in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $25,000. EdgeRock Capital LLC purchased a new position in Carrier Global during the fourth quarter valued at $27,000. Larson Financial Group LLC raised its position in shares of Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after purchasing an additional 221 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Carrier Global in the third quarter worth approximately $28,000. 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.