Carrier Global (NYSE:CARR) Price Target Increased to $80.00 by Analysts at Bank of America

Carrier Global (NYSE:CARR) had its price target upped by Bank of America from $72.00 to $80.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

CARR has been the topic of several other research reports. Royal Bank of Canada boosted their price target on shares of Carrier Global from $72.00 to $79.00 and gave the stock an outperform rating in a research note on Thursday, September 5th. Wolfe Research raised shares of Carrier Global from an underperform rating to a peer perform rating in a report on Friday, September 6th. Oppenheimer increased their price target on shares of Carrier Global from $70.00 to $74.00 and gave the company an outperform rating in a report on Friday, August 16th. Barclays raised their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an overweight rating in a research report on Friday, June 14th. Finally, Robert W. Baird reduced their target price on shares of Carrier Global from $75.00 to $74.00 and set an outperform rating on the stock in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of Moderate Buy and an average target price of $70.83.

Carrier Global Stock Up 1.5 %

CARR opened at $76.51 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $77.48. The firm’s fifty day moving average is $68.05 and its 200 day moving average is $63.17. The stock has a market cap of $68.94 billion, a price-to-earnings ratio of 53.50, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating 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 company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the previous year, the company earned $0.79 EPS. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that Carrier Global will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carrier Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Olistico Wealth LLC acquired a new position in Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. boosted its holdings in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global in the 2nd quarter valued at about $32,000. Hantz Financial Services Inc. acquired a new position in Carrier Global in the 2nd quarter valued at about $35,000. Finally, Family Firm Inc. acquired a new position in Carrier Global in the 2nd quarter valued at about $37,000. 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.