Carrier Global (NYSE:CARR) Reaches New 12-Month High – Should You Buy?

Carrier Global Co. (NYSE:CARR) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $81.82 and last traded at $81.78, with a volume of 1501311 shares. The stock had previously closed at $80.84.

Analysts Set New Price Targets

Several analysts recently commented on CARR shares. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Robert W. Baird decreased their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Wells Fargo & Company boosted their price target on Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Barclays boosted their target price on Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.80.

Carrier Global Stock Up 1.5 %

The firm has a market cap of $73.96 billion, a price-to-earnings ratio of 56.86, a P/E/G ratio of 3.23 and a beta of 1.32. The firm has a 50 day moving average price of $72.63 and a 200-day moving average price of $65.94. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share 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 business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the company posted $0.79 EPS. The company’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Carrier Global Co. will post 2.84 EPS for the current year.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction 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 transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Carrier Global

Large investors have recently added to or reduced their stakes in the business. Elo Mutual Pension Insurance Co grew its position in Carrier Global by 4.7% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 73,130 shares of the company’s stock valued at $4,201,000 after acquiring an additional 3,257 shares during the period. Cullen Capital Management LLC grew its stake in Carrier Global by 4.6% during the fourth quarter. Cullen Capital Management LLC now owns 5,845 shares of the company’s stock worth $336,000 after buying an additional 257 shares during the period. LM Advisors LLC acquired a new stake in shares of Carrier Global in the fourth quarter worth $279,000. Barden Capital Management Inc. increased its position in shares of Carrier Global by 14.8% in the fourth quarter. Barden Capital Management Inc. now owns 36,876 shares of the company’s stock worth $2,038,000 after acquiring an additional 4,752 shares in the last quarter. Finally, Firsthand Capital Management Inc. purchased a new position in shares of Carrier Global in the 4th quarter valued at $57,000. 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.