Oppenheimer Raises Carrier Global (NYSE:CARR) Price Target to $74.00

Carrier Global (NYSE:CARR) had its price target upped by Oppenheimer from $70.00 to $74.00 in a research note published on Friday, MarketBeat.com reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently issued reports on CARR. Bank of America upgraded Carrier Global from an underperform rating to a neutral rating and increased their price objective for the stock from $55.00 to $72.00 in a research report on Monday, July 29th. Baird R W upgraded shares of Carrier Global from a hold rating to a strong-buy rating in a report on Monday, July 15th. Royal Bank of Canada reissued an outperform rating and set a $72.00 price objective on shares of Carrier Global in a report on Friday, July 26th. TD Cowen increased their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a buy rating in a report on Monday, April 29th. Finally, Robert W. Baird decreased their price target on Carrier Global from $75.00 to $74.00 and set an outperform rating on the stock in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $67.08.

Carrier Global Price Performance

Carrier Global stock opened at $67.38 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market capitalization of $60.71 billion, a PE ratio of 47.12, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32. The business has a 50 day simple moving average of $65.02 and a 200-day simple moving average of $60.97. Carrier Global has a 12 month low of $45.68 and a 12 month high of $70.09.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) 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 firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the company posted $0.79 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts predict that Carrier Global will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 21st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, June 21st. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Buying and Selling at Carrier Global

In other news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Institutional Trading of Carrier Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares during the period. Norges Bank purchased a new stake in shares of Carrier Global during the 4th quarter valued at $444,487,000. Capital International Investors increased its holdings in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. raised its position in shares of Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after buying an additional 3,741,206 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Carrier Global by 3.3% in the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after acquiring an additional 2,961,923 shares during the last quarter. Hedge funds and other institutional investors 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.