Carrier Global (NYSE:CARR) Given New $73.00 Price Target at Wells Fargo & Company

Carrier Global (NYSE:CARR) had its price objective upped by Wells Fargo & Company from $66.00 to $73.00 in a report issued on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also issued research reports about the company. Citigroup raised Carrier Global from a neutral rating to a buy rating and increased their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Oppenheimer increased their price target on shares of Carrier Global from $70.00 to $74.00 and gave the company an outperform rating in a research note on Friday, August 16th. Bank of America upgraded shares of Carrier Global from an underperform rating to a neutral rating and lifted their price target for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. Robert W. Baird cut their price target on Carrier Global from $75.00 to $74.00 and set an outperform rating on the stock in a research report on Friday, July 26th. Finally, Baird R W upgraded shares of Carrier Global from a hold rating to a strong-buy rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $69.38.

Carrier Global Trading Up 0.7 %

NYSE:CARR opened at $69.53 on Friday. The stock has a fifty day moving average price of $66.98 and a 200 day moving average price of $62.48. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global has a 12-month low of $45.68 and a 12-month high of $73.06. The firm has a market cap of $62.65 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.90 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. Sell-side analysts anticipate that Carrier Global will post 2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is currently owned by company insiders.

Institutional Trading of Carrier Global

Hedge funds have recently bought and sold shares of the company. Marathon Capital Management raised its stake in Carrier Global by 4.1% during the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares during the period. Savant Capital LLC lifted its stake in shares of Carrier Global by 0.5% in the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after purchasing an additional 162 shares in the last quarter. Founders Capital Management LLC grew its holdings in shares of Carrier Global by 3.4% during the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after purchasing an additional 175 shares during the period. Manchester Capital Management LLC increased its position in Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after purchasing an additional 180 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Carrier Global by 2.3% in the first quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.