Wolfe Research Upgrades Carrier Global (NYSE:CARR) to “Peer Perform”

Carrier Global (NYSE:CARR) was upgraded by research analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating in a research note issued to investors on Friday, MarketBeat reports.

A number of other brokerages have also recently weighed in on CARR. Robert W. Baird decreased 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. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Barclays increased their target price 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. Finally, Oppenheimer lifted their price target on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.38.

Carrier Global Stock Up 0.6 %

NYSE:CARR opened at $69.48 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 cap of $62.60 billion, a PE ratio of 48.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.32. The company has a 50-day moving average of $66.98 and a 200 day moving average of $62.54. Carrier Global has a 1-year low of $45.68 and a 1-year high of $73.06.

Carrier Global (NYSE:CARR) last released 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 firm 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% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. As a group, research analysts anticipate that Carrier Global will post 2.84 EPS for the current fiscal year.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction dated 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 sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.95% of the stock is owned by insiders.

Institutional Trading of Carrier Global

Several institutional investors and hedge funds have recently bought and sold shares of CARR. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter worth $25,000. Meeder Asset Management Inc. grew its position in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC purchased a new position in shares of Carrier Global during the 2nd quarter valued at about $32,000. United Community Bank acquired a new position in shares of Carrier Global in the 4th quarter valued at about $34,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Carrier Global in the first quarter worth about $34,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.