Carrier Global (NYSE:CARR) PT Raised to $82.00

Carrier Global (NYSE:CARR) had its price target raised by Wells Fargo & Company from $73.00 to $82.00 in a research note published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

CARR has been the subject of several other reports. Wolfe Research upgraded Carrier Global from an underperform rating to a peer perform rating in a research report on Friday, September 6th. Barclays increased their price objective on Carrier Global from $81.00 to $90.00 and gave the stock an overweight rating in a report on Wednesday, October 2nd. Citigroup upgraded shares of Carrier Global from a neutral rating to a buy rating and lifted their price target for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Oppenheimer upped their target price on Carrier Global from $74.00 to $88.00 and gave the stock an outperform rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada raised their price target on Carrier Global from $72.00 to $79.00 and gave the company an outperform rating in a research note on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $77.36.

Carrier Global Trading Down 2.0 %

CARR stock opened at $80.43 on Monday. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $82.16. The stock has a market capitalization of $72.47 billion, a price-to-earnings ratio of 57.09, a P/E/G ratio of 3.23 and a beta of 1.32. 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 business has a fifty day moving average price of $72.90 and a 200 day moving average price of $66.05.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. Analysts expect that Carrier Global will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.94%. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Carrier Global

Institutional investors have recently made changes to their positions in the company. Koshinski Asset Management Inc. acquired a new stake in shares of Carrier Global during the third quarter worth $201,000. CHICAGO TRUST Co NA increased its position in Carrier Global by 11.4% during the third quarter. CHICAGO TRUST Co NA now owns 4,089 shares of the company’s stock worth $329,000 after acquiring an additional 419 shares during the period. Exchange Traded Concepts LLC increased its position in Carrier Global by 69.6% during the third quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock worth $96,000 after acquiring an additional 487 shares during the period. InTrack Investment Management Inc raised its stake in Carrier Global by 114.0% in the 3rd quarter. InTrack Investment Management Inc now owns 8,570 shares of the company’s stock worth $690,000 after purchasing an additional 4,565 shares in the last quarter. Finally, Avity Investment Management Inc. boosted its holdings in Carrier Global by 95.4% in the 3rd quarter. Avity Investment Management Inc. now owns 240,799 shares of the company’s stock valued at $19,382,000 after purchasing an additional 117,545 shares during the period. Institutional investors own 91.00% of the company’s stock.

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.