Carrier Global (NYSE:CARR) Reaches New 52-Week High at $77.68

Shares of Carrier Global Co. (NYSE:CARR) hit a new 52-week high during trading on Tuesday . The stock traded as high as $77.68 and last traded at $77.17, with a volume of 201499 shares traded. The stock had previously closed at $77.11.

Analyst Ratings Changes

A number of research analysts recently issued reports on CARR shares. Barclays boosted their target price on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Royal Bank of Canada upped their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Robert W. Baird cut their price objective 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. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company increased their price target on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $71.73.

Carrier Global Price Performance

The firm has a market cap of $70.04 billion, a P/E ratio of 53.92, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a fifty day moving average of $68.32 and a 200-day moving average of $63.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the business posted $0.79 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Olistico Wealth LLC purchased a new position in Carrier Global in the second quarter valued at about $25,000. Meeder Asset Management Inc. lifted its stake in 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 purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in Carrier Global during the second quarter valued at $32,000. United Community Bank bought a new position in Carrier Global during the fourth quarter valued at $34,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Carrier Global in the first quarter valued at $34,000. 91.00% of the stock is 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.