Carrier Global (NYSE:CARR) Earns “Outperform” Rating from Oppenheimer

Carrier Global (NYSE:CARR)‘s stock had its “outperform” rating restated by analysts at Oppenheimer in a note issued to investors on Thursday, Benzinga reports. They presently have a $63.00 price target on the stock. Oppenheimer’s price objective points to a potential upside of 16.11% from the company’s current price.

A number of other analysts also recently commented on CARR. Barclays upped their target price on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company lowered their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Royal Bank of Canada lowered their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, Citigroup upped their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.15.

Carrier Global Stock Down 0.9 %

Carrier Global stock opened at $54.26 on Thursday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. The business’s 50-day simple moving average is $56.45 and its two-hundred day simple moving average is $54.76. The company has a market cap of $48.84 billion, a PE ratio of 34.34, a PEG ratio of 2.31 and a beta of 1.39. Carrier Global has a fifty-two week low of $40.28 and a fifty-two week high of $60.87.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. Equities analysts anticipate that Carrier Global will post 2.82 EPS for the current year.

Insider Activity at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. grew its position in Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in shares of Carrier Global during the fourth quarter worth $25,000. Covestor Ltd boosted its position in shares of Carrier Global by 121.2% during the first quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after buying an additional 303 shares during the period. EdgeRock Capital LLC purchased a new position in shares of Carrier Global during the fourth quarter worth $27,000. Finally, OFI Invest Asset Management purchased a new position in shares of Carrier Global during the third quarter worth $28,000. 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.