Oppenheimer Raises Carrier Global (NYSE:CARR) Price Target to $71.00

Carrier Global (NYSE:CARR) had its price target raised by Oppenheimer from $64.00 to $71.00 in a report issued on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently issued reports on CARR. Citigroup raised Carrier Global from a neutral rating to a buy rating and lifted their price target for the company from $65.00 to $74.00 in a research note on Monday. Barclays upped their price target on Carrier Global from $79.00 to $81.00 and gave the stock an overweight rating in a research report on Friday, June 14th. Robert W. Baird lifted their price objective on shares of Carrier Global from $60.00 to $64.00 and gave the company a neutral rating in a report on Friday, May 3rd. Wells Fargo & Company increased their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an equal weight rating in a report on Friday, April 26th. Finally, TD Cowen lifted their price target on shares of Carrier Global from $66.00 to $70.00 and gave the company a buy rating in a research note on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $64.14.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $63.26 on Thursday. Carrier Global has a 12 month low of $45.68 and a 12 month high of $66.50. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $57.00 billion, a PE ratio of 44.24, a PEG ratio of 2.58 and a beta of 1.33. The stock’s fifty day simple moving average is $62.79 and its 200 day simple moving average is $58.61.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The company had revenue of $6.18 billion for the quarter, compared to analyst estimates 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 predict that Carrier Global will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Transactions at Carrier Global

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were 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 SEC, which can be accessed through this link. In other news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,954 shares of company stock worth $16,650,050. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently added to or reduced their stakes in CARR. JPMorgan Chase & Co. increased its holdings in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares in the last quarter. Norges Bank bought a new stake in Carrier Global during the 4th quarter worth $444,487,000. Capital International Investors increased its holdings in Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares in the last quarter. Capital Research Global Investors raised its position 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 purchasing an additional 2,961,923 shares during the last quarter. Finally, Bristol Gate Capital Partners Inc. acquired a new stake in shares of Carrier Global during the fourth quarter valued at about $92,651,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.