Morgan Stanley Initiates Coverage on Carrier Global (NYSE:CARR)

Morgan Stanley initiated coverage on shares of Carrier Global (NYSE:CARR) in a report issued on Friday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $75.00 price objective on the stock.

CARR has been the subject of several other research reports. Robert W. Baird decreased their target price on Carrier Global from $75.00 to $74.00 and set an outperform rating for the company in a research report on Friday, July 26th. Barclays lifted their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an overweight rating in a research report on Friday, June 14th. Royal Bank of Canada upped their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the stock an outperform rating in a report on Thursday. Bank of America upgraded Carrier Global from an underperform rating to a neutral rating and upped their price target for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. Finally, Oppenheimer upped their price target on shares of Carrier Global from $70.00 to $74.00 and gave the stock an outperform rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Carrier Global has an average rating of Moderate Buy and an average price target of $69.38.

Carrier Global Trading Up 0.7 %

CARR opened at $69.53 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 firm has a market capitalization of $62.65 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 2.90 and a beta of 1.32. The business has a 50 day simple moving average of $66.98 and a two-hundred day simple moving average of $62.48. Carrier Global has a one year low of $45.68 and a one year high of $73.06.

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

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aveo Capital Partners LLC boosted its holdings in Carrier Global by 3.9% during the 4th quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock valued at $310,000 after acquiring an additional 205 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in shares of Carrier Global by 5.6% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 5,759 shares of the company’s stock worth $331,000 after purchasing an additional 307 shares during the last quarter. Lincoln National Corp increased its stake in Carrier Global by 2.1% in the 4th quarter. Lincoln National Corp now owns 13,741 shares of the company’s stock worth $789,000 after buying an additional 280 shares during the period. Apollon Wealth Management LLC lifted its holdings in Carrier Global by 66.0% during the 4th quarter. Apollon Wealth Management LLC now owns 18,450 shares of the company’s stock valued at $1,060,000 after buying an additional 7,333 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its position in Carrier Global by 4.4% in the 4th quarter. Wealthspire Advisors LLC now owns 9,129 shares of the company’s stock valued at $524,000 after buying an additional 387 shares during the period. Hedge funds and other institutional investors 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.