Brokerages Set Carrier Global Co. (NYSE:CARR) PT at $71.73

Carrier Global Co. (NYSE:CARR) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $71.73.

CARR has been the subject of several research reports. Bank of America boosted their price target on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Morgan Stanley initiated coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Barclays boosted their target price on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the 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 transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Several large investors have recently made changes to their positions in CARR. Aveo Capital Partners LLC lifted its stake in Carrier Global by 3.9% during the 4th quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock worth $310,000 after acquiring an additional 205 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Carrier Global in the fourth quarter valued at approximately $241,000. Orion Portfolio Solutions LLC increased its stake in Carrier Global by 46.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 38,216 shares of the company’s stock worth $2,156,000 after buying an additional 12,112 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Carrier Global by 4.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 220,550 shares of the company’s stock worth $12,671,000 after buying an additional 8,724 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Carrier Global by 26.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,288,385 shares of the company’s stock valued at $74,018,000 after buying an additional 269,925 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

CARR opened at $80.52 on Wednesday. The firm’s fifty day simple moving average is $70.75 and its two-hundred day simple moving average is $64.84. Carrier Global has a 52-week low of $45.68 and a 52-week high of $81.64. The company has a market cap of $72.55 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 3.23 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the company posted $0.79 EPS. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Carrier Global will post 2.84 earnings per share for the current fiscal year.

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.