Carrier Global (NYSE:CARR) Given New $90.00 Price Target at Barclays

by · The Cerbat Gem

Carrier Global (NYSE:CARR – Free Report) had its price target upped by Barclays from $81.00 to $90.00 in a research report released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Morgan Stanley initiated coverage on shares of Carrier Global in a report on Friday, September 6th. They set an equal weight rating and a $75.00 price objective for the company. Wells Fargo & Company lifted their price target on Carrier Global from $66.00 to $73.00 and gave the stock an equal weight rating in a research note on Friday, September 6th. Oppenheimer increased their price objective on Carrier Global from $74.00 to $88.00 and gave the company an outperform rating in a research report on Wednesday. Citigroup upgraded Carrier Global from a neutral rating to a buy rating and boosted their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, Robert W. Baird reduced their price target on shares of Carrier Global from $75.00 to $74.00 and set an outperform rating on the stock in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Carrier Global has a consensus rating of Moderate Buy and an average price target of $73.82.

Get Our Latest Report on CARR

Carrier Global Price Performance

Shares of NYSE CARR opened at $80.80 on Wednesday. The firm has a market capitalization of $72.80 billion, a P/E ratio of 56.50, a P/E/G ratio of 3.23 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The stock’s 50-day simple moving average is $72.10 and its two-hundred day simple moving average is $65.58. Carrier Global has a twelve month low of $45.68 and a twelve month high of $81.64.

Carrier Global (NYSE:CARR – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the business earned $0.79 earnings per share. Carrier Global’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts anticipate that Carrier Global will post 2.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Carrier Global by 0.5% during the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after buying an additional 466,829 shares during the period. Capital International Investors increased its position in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares during the period. JPMorgan Chase & Co. raised its holdings in Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after purchasing an additional 17,021,768 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Carrier Global by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after purchasing an additional 310,453 shares during the period. Finally, PineStone Asset Management Inc. boosted its stake in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

About Carrier Global

(Get Free Report)

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.

Read More