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

Carrier Global (NYSE:CARR)‘s stock had its “outperform” rating reaffirmed by equities research 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 target price would suggest a potential upside of 16.11% from the company’s previous close.

A number of other brokerages have also recently commented on CARR. Royal Bank of Canada cut their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Barclays increased their price target on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company cut their target price on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, Citigroup raised their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Carrier Global 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 market cap of $48.84 billion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. The company has a fifty day simple moving average of $56.45 and a 200 day simple moving average of $54.76. Carrier Global has a 1-year low of $40.28 and a 1-year high of $60.87.

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

Insiders Place Their Bets

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated 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 completion of the sale, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated 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 completion of the sale, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global 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 completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Several hedge funds have recently bought and sold shares of CARR. Price T Rowe Associates Inc. MD increased its holdings in Carrier Global by 712.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock valued at $799,843,000 after buying an additional 15,330,140 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in Carrier Global by 83,676.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock valued at $346,925,000 after buying an additional 8,400,264 shares during the period. Norges Bank bought a new position in Carrier Global in the 4th quarter valued at about $444,487,000. C WorldWide Group Holding A S bought a new position in Carrier Global in the 3rd quarter valued at about $260,761,000. Finally, Victory Capital Management Inc. increased its holdings in Carrier Global by 1,140.8% in the 4th quarter. Victory Capital Management Inc. now owns 4,138,117 shares of the company’s stock valued at $170,697,000 after buying an additional 3,804,624 shares during the period. 91.00% of the stock is owned by 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.