Carrier Global (NYSE:CARR) Price Target Lowered to $83.00 at Barclays

Carrier Global (NYSE:CARR) had its target price cut by Barclays from $87.00 to $83.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

CARR has been the subject of a number of other reports. The Goldman Sachs Group started coverage on Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. JPMorgan Chase & Co. raised shares of Carrier Global from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $77.00 to $78.00 in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Monday, February 24th. Finally, Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.27.

Carrier Global Price Performance

NYSE:CARR opened at $66.99 on Wednesday. The stock has a market capitalization of $57.87 billion, a PE ratio of 10.67, a P/E/G ratio of 2.01 and a beta of 1.35. Carrier Global has a 1-year low of $53.33 and a 1-year high of $83.32. The firm has a fifty day simple moving average of $66.29 and a 200 day simple moving average of $71.90. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, research analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CARR. Norges Bank bought a new position in Carrier Global in the fourth quarter valued at about $588,029,000. Wealthfront Advisers LLC grew its holdings in shares of Carrier Global by 5,840.1% during the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after purchasing an additional 4,915,826 shares during the last quarter. Brown Advisory Inc. increased its position in Carrier Global by 139.1% during the 4th quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock worth $361,544,000 after purchasing an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in Carrier Global during the 4th quarter worth approximately $166,061,000. Finally, FMR LLC boosted its position in Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after buying an additional 2,320,909 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

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.