Carrier Global (NYSE:CARR) PT Raised to $88.00 at Oppenheimer

Carrier Global (NYSE:CARR) had its price objective raised by equities researchers at Oppenheimer from $74.00 to $88.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 10.76% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays boosted their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, Robert W. Baird dropped their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Carrier Global Price Performance

Shares of CARR stock traded up $0.10 on Wednesday, hitting $79.45. 173,846 shares of the company’s stock were exchanged, compared to its average volume of 4,187,981. Carrier Global has a 12 month low of $45.68 and a 12 month high of $81.64. 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 company has a 50 day moving average of $71.23 and a 200 day moving average of $65.16. The stock has a market cap of $71.59 billion, a P/E ratio of 56.11, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its quarterly 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. The company 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 firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. On average, equities research analysts predict that Carrier Global will post 2.84 EPS for the current year.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.95% of the stock is currently owned by company insiders.

Institutional Trading of Carrier Global

Several institutional investors have recently made changes to their positions in CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global during the second quarter valued at about $25,000. Meeder Asset Management Inc. grew its holdings in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the second quarter valued at approximately $32,000. Hantz Financial Services Inc. purchased a new stake in shares of Carrier Global during the second quarter valued at approximately $35,000. Finally, Family Firm Inc. bought a new stake in Carrier Global during the second quarter worth $37,000. 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.