Citigroup Reaffirms Buy Rating for Carrier Global (NYSE:CARR)

Carrier Global (NYSE:CARR)‘s stock had its “buy” rating reiterated by investment analysts at Citigroup in a report issued on Monday, Marketbeat.com reports. They currently have a $89.00 target price on the stock, up from their previous target price of $82.00. Citigroup’s price objective would indicate a potential upside of 17.97% from the stock’s previous close.

Several other equities research analysts also recently weighed in on CARR. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Friday, May 9th. Royal Bank Of Canada boosted their price target on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Wells Fargo & Company raised their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Finally, Mizuho set a $72.00 target price on shares of Carrier Global in a research note on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.82.

Carrier Global Trading Down 1.5%

Shares of NYSE:CARR opened at $75.45 on Monday. The company has a market capitalization of $64.68 billion, a PE ratio of 11.68, a P/E/G ratio of 2.09 and a beta of 1.31. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Carrier Global has a 12-month low of $54.22 and a 12-month high of $83.32. The business’s fifty day simple moving average is $72.77 and its 200-day simple moving average is $67.70.

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

Insider Buying and Selling at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director owned 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Carrier Global

Institutional investors have recently bought and sold shares of the stock. Ritter Daniher Financial Advisory LLC DE lifted its holdings in Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after buying an additional 180 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $28,000. Accredited Wealth Management LLC acquired a new stake in shares of Carrier Global during the first quarter worth $28,000. Investment Research & Advisory Group Inc. acquired a new stake in shares of Carrier Global during the first quarter worth $29,000. Finally, Mattson Financial Services LLC bought a new stake in Carrier Global in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.