Carrier Global (NYSE:CARR) Hits New 12-Month High at $73.16

Carrier Global Co. (NYSE:CARR)’s share price hit a new 52-week high on Wednesday . The company traded as high as $73.16 and last traded at $73.11, with a volume of 2521615 shares changing hands. The stock had previously closed at $71.83.

Analyst Ratings Changes

Several brokerages have issued reports on CARR. Wells Fargo & Company boosted their price target on shares of Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Bank of America upped their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Robert W. Baird dropped their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and an average target price of $70.83.

Carrier Global Stock Performance

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 company has a market cap of $68.94 billion, a price-to-earnings ratio of 54.14, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The stock has a 50-day moving average price of $67.78 and a 200 day moving average price of $63.01.

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

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.95% of the stock is owned by company insiders.

Institutional Trading of Carrier Global

Several institutional investors have recently added to or reduced their stakes in the company. Marathon Capital Management lifted its holdings in shares of Carrier Global by 4.1% during the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after acquiring an additional 156 shares during the period. Savant Capital LLC raised its holdings in shares of Carrier Global by 0.5% during the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after buying an additional 162 shares in the last quarter. Founders Capital Management LLC lifted its position in shares of Carrier Global by 3.4% during the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after buying an additional 175 shares during the last quarter. Manchester Capital Management LLC boosted its stake in Carrier Global by 4.3% in the first quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after buying an additional 180 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its stake in Carrier Global by 2.3% during the first quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after acquiring an additional 182 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

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.