Carrier Global (NYSE:CARR) Sets New 12-Month High After Analyst Upgrade

Carrier Global Co. (NYSE:CARR) shares hit a new 52-week high during trading on Monday after TD Cowen raised their price target on the stock from $66.00 to $70.00. TD Cowen currently has a buy rating on the stock. Carrier Global traded as high as $61.90 and last traded at $61.89, with a volume of 862133 shares trading hands. The stock had previously closed at $60.50.

Several other analysts have also recently weighed in on CARR. Oppenheimer lifted their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Royal Bank of Canada decreased their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. 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 report on Friday, April 26th. Citigroup boosted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company boosted their price target on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.62.

Insider Transactions at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction on 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 sale, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a document filed with the SEC, 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 shares were 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 Investors Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently modified their holdings of CARR. Beese Fulmer Investment Management Inc. grew its position in Carrier Global by 0.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock valued at $1,119,000 after acquiring an additional 181 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after purchasing an additional 182 shares during the last quarter. Graypoint LLC raised its position in shares of Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after purchasing an additional 184 shares during the last quarter. Sovereign Financial Group Inc. raised its position in shares of Carrier Global by 4.7% in the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock worth $243,000 after purchasing an additional 188 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its position in shares of Carrier Global by 2.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock worth $517,000 after purchasing an additional 197 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

The firm has a fifty day moving average of $56.88 and a 200 day moving average of $54.94. The company has a market capitalization of $55.40 billion, a P/E ratio of 43.00, a P/E/G ratio of 2.53 and a beta of 1.39. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31.

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. The business had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. On average, equities research analysts anticipate that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors 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 dividend on an annualized basis and a dividend yield of 1.24%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

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.