Carrier Global (NYSE:CARR) Given New $79.00 Price Target at Barclays

Carrier Global (NYSE:CARR) had its target price boosted by Barclays from $78.00 to $79.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on CARR. Wells Fargo & Company reduced their price target on shares of Carrier Global from $63.00 to $57.00 and set an equal weight rating for the company in a research report on Wednesday, February 7th. Oppenheimer reiterated an outperform rating and issued a $63.00 target price on shares of Carrier Global in a research report on Thursday, April 18th. Royal Bank of Canada cut their target price on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating for the company in a research report on Wednesday, February 7th. Finally, Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $62.62.

Carrier Global Price Performance

NYSE CARR opened at $62.77 on Friday. The company has a 50-day moving average price of $56.72 and a two-hundred day moving average price of $54.88. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The stock has a market cap of $56.50 billion, a price-to-earnings ratio of 43.90, a price-to-earnings-growth ratio of 2.53 and a beta of 1.39. Carrier Global has a 52 week low of $40.28 and a 52 week high of $62.88.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Analysts forecast that Carrier Global will post 2.84 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be given a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a yield of 1.21%. Carrier Global’s dividend payout ratio is 53.15%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Carrier Global

Institutional investors have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. lifted its holdings in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Carrier Global in the fourth quarter worth about $25,000. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the fourth quarter worth about $27,000. Larson Financial Group LLC raised its stake in shares of Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after acquiring an additional 221 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Carrier Global in the third quarter worth about $28,000. 91.00% of the stock is owned by institutional investors.

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.