Carrier Global (NYSE:CARR) Given New $73.00 Price Target at Wells Fargo & Company

Carrier Global (NYSE:CARR) had its price target increased by Wells Fargo & Company from $66.00 to $73.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Oppenheimer boosted their price target on shares of Carrier Global from $70.00 to $74.00 and gave the company an outperform rating in a research note on Friday, August 16th. Morgan Stanley started coverage on Carrier Global in a research report on Friday. They issued an equal weight rating and a $75.00 target price on the stock. Wolfe Research upgraded Carrier Global from an underperform rating to a peer perform rating in a research report on Friday. Robert W. Baird dropped their price objective on Carrier Global from $75.00 to $74.00 and set an outperform rating for the company in a research note on Friday, July 26th. Finally, Bank of America raised Carrier Global from an underperform rating to a neutral rating and increased their target price for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $70.17.

Carrier Global Price Performance

Shares of CARR stock opened at $70.73 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’s 50-day moving average is $67.16 and its two-hundred day moving average is $62.72. Carrier Global has a 12 month low of $45.68 and a 12 month high of $73.06. The company has a market capitalization of $63.85 billion, a PE ratio of 49.46, a price-to-earnings-growth ratio of 2.77 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.05 billion. During the same period in the previous year, the firm earned $0.79 earnings per share. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts predict that Carrier Global will post 2.84 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

A number of large investors have recently made changes to their positions in CARR. Nordea Investment Management AB increased its stake in Carrier Global by 5.5% in the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after purchasing an additional 43,002 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Carrier Global in the fourth quarter valued at approximately $973,000. Versor Investments LP purchased a new position in Carrier Global in the fourth quarter valued at approximately $1,132,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Carrier Global by 50.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after purchasing an additional 130,192 shares during the last quarter. Finally, GLOBALT Investments LLC GA purchased a new position in Carrier Global in the fourth quarter valued at approximately $859,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.