Oppenheimer Raises Carrier Global (NYSE:CARR) Price Target to $88.00

Carrier Global (NYSE:CARR) had its target price lifted by Oppenheimer from $74.00 to $88.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

CARR has been the subject of several other reports. Robert W. Baird cut their price objective on shares of Carrier Global from $75.00 to $74.00 and set an outperform rating for the company in a research report on Friday, July 26th. Citigroup upgraded Carrier Global from a neutral rating to a buy rating and boosted their price target for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Wells Fargo & Company increased their price objective on Carrier Global from $66.00 to $73.00 and gave the stock an equal weight rating in a research report on Friday, September 6th. 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. Finally, Bank of America raised their price target on shares of Carrier Global from $72.00 to $80.00 and gave the stock a neutral rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of Moderate Buy and an average price target of $73.82.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $80.79 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $72.79 billion, a P/E ratio of 56.50, a P/E/G ratio of 3.23 and a beta of 1.32. Carrier Global has a 12 month low of $45.68 and a 12 month high of $81.64. The stock has a 50 day moving average of $72.10 and a 200-day moving average of $65.53.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm 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 company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. As a group, equities research analysts predict that Carrier Global will post 2.84 EPS for the current year.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after purchasing an additional 466,829 shares in the last quarter. Capital International Investors boosted its holdings in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. grew its position in Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Carrier Global by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after purchasing an additional 310,453 shares in the last quarter. Finally, PineStone Asset Management Inc. raised its position in Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. 91.00% of the stock is 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.