Carrier Global (NYSE:CARR) Now Covered by Melius

Equities research analysts at Melius began coverage on shares of Carrier Global (NYSE:CARR) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $90.00 price target on the stock. Melius’ price objective would indicate a potential upside of 19.55% from the company’s previous close.

Several other equities research analysts have also commented on the company. Barclays upped their price objective on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upped their target price on Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Wells Fargo & Company upped their target price on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Citigroup reduced their target price on Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a research note on Wednesday, May 21st. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average target price of $83.82.

Carrier Global Price Performance

Shares of NYSE CARR opened at $75.28 on Tuesday. The business’s 50 day moving average price is $70.87 and its 200 day moving average price is $67.29. The firm has a market cap of $64.54 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.05 and a beta of 1.31. Carrier Global has a 52 week low of $54.22 and a 52 week high of $83.32. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Carrier Global’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts expect that Carrier Global will post 2.99 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the transaction, the director directly owned 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Syon Capital LLC raised its stake in Carrier Global by 2.2% in the 4th quarter. Syon Capital LLC now owns 7,089 shares of the company’s stock valued at $484,000 after purchasing an additional 155 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock worth $779,000 after acquiring an additional 156 shares during the last quarter. BOK Financial Private Wealth Inc. increased its stake in shares of Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after acquiring an additional 160 shares during the last quarter. Code Waechter LLC increased its stake in shares of Carrier Global by 5.1% in the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock worth $214,000 after acquiring an additional 164 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in shares of Carrier Global by 2.9% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company’s stock worth $424,000 after acquiring an additional 168 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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.