Carrier Global (NYSE:CARR) Shares Gap Up to $54.77

Shares of Carrier Global Co. (NYSE:CARR) gapped up before the market opened on Thursday . The stock had previously closed at $54.77, but opened at $56.75. Carrier Global shares last traded at $59.00, with a volume of 3,114,382 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CARR shares. Citigroup boosted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company dropped their price target on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Royal Bank of Canada decreased their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and issued a $63.00 price objective on shares of Carrier Global in a research report on Thursday, April 18th. Finally, Barclays boosted their target price on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of “Hold” and a consensus price target of $61.15.

Carrier Global Price Performance

The stock has a market cap of $53.84 billion, a P/E ratio of 37.34, a PEG ratio of 2.33 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. The business’s fifty day moving average price is $56.34 and its 200 day moving average price is $54.76.

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

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is presently 48.10%.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on 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 sale, the vice president now 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 accessible through the SEC website. In other Carrier Global news, 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 transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

Several hedge funds have recently added to or reduced their stakes in CARR. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Carrier Global by 6.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 119,189 shares of the company’s stock valued at $6,928,000 after purchasing an additional 7,300 shares during the period. Telos Capital Management Inc. boosted its holdings in shares of Carrier Global by 16.0% in the 1st quarter. Telos Capital Management Inc. now owns 111,118 shares of the company’s stock worth $6,459,000 after purchasing an additional 15,315 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Carrier Global by 1.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 94,347 shares of the company’s stock worth $5,484,000 after purchasing an additional 1,669 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Carrier Global by 27.3% in the 1st quarter. V Square Quantitative Management LLC now owns 15,929 shares of the company’s stock worth $926,000 after purchasing an additional 3,418 shares during the period. Finally, Round Rock Advisors LLC purchased a new position in shares of Carrier Global in the 1st quarter worth approximately $233,000. 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.