Carrier Global Co. (NYSE:CARR) Receives $62.86 Average Price Target from Analysts

Shares of Carrier Global Co. (NYSE:CARR) have earned an average rating of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $62.86.

Several analysts have recently commented on CARR shares. Barclays increased their price objective on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Wells Fargo & Company increased their price objective on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Citigroup increased their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Robert W. Baird increased their price objective on Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Oppenheimer increased their price objective on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th.

Carrier Global Stock Up 0.9 %

CARR stock opened at $65.72 on Monday. The stock’s 50 day simple moving average is $61.98 and its 200 day simple moving average is $58.26. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $66.50. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The company has a market cap of $59.21 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 2.63 and a beta of 1.33.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. On average, research analysts expect that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was 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 directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 262,954 shares of company stock valued at $16,650,050. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Large investors have recently made changes to their positions in the stock. Modera Wealth Management LLC boosted its holdings in shares of Carrier Global by 19.4% in the third quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock worth $1,165,000 after acquiring an additional 3,430 shares during the period. Pinnacle Financial Partners Inc boosted its stake in Carrier Global by 9.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after buying an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. bought a new stake in Carrier Global during the fourth quarter valued at $2,081,000. AIA Group Ltd boosted its stake in Carrier Global by 16.5% during the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after buying an additional 14,003 shares during the period. Finally, Versor Investments LP bought a new stake in Carrier Global during the fourth quarter valued at $1,132,000. 91.00% of the stock is owned by 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.