Carrier Global (NYSE:CARR) Price Target Increased to $79.00 by Analysts at Royal Bank of Canada

Carrier Global (NYSE:CARR) had its target price raised by Royal Bank of Canada from $72.00 to $79.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

CARR has been the topic of a number of other reports. Bank of America raised Carrier Global from an underperform rating to a neutral rating and increased their target price for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. Baird R W upgraded shares of Carrier Global from a hold rating to a strong-buy rating in a research note on Monday, July 15th. Oppenheimer lifted their target price on shares of Carrier Global from $70.00 to $74.00 and gave the stock an outperform rating in a report on Friday, August 16th. Citigroup upgraded shares of Carrier Global from a neutral rating to a buy rating and increased their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Barclays boosted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the stock an overweight rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $69.38.

Carrier Global Trading Up 0.6 %

Shares of NYSE CARR opened at $69.48 on Thursday. Carrier Global has a 1 year low of $45.68 and a 1 year high of $73.06. 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 firm has a 50-day moving average of $66.98 and a 200 day moving average of $62.54. The stock has a market cap of $62.60 billion, a P/E ratio of 48.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm 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 business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 EPS. As a group, sell-side analysts expect that Carrier Global will post 2.84 EPS for the current fiscal year.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Marathon Capital Management increased its stake in shares of Carrier Global by 4.1% in the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares in the last quarter. Savant Capital LLC grew its holdings in Carrier Global by 0.5% during the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after purchasing an additional 162 shares during the period. Founders Capital Management LLC increased its position in Carrier Global by 3.4% in the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after buying an additional 175 shares in the last quarter. Manchester Capital Management LLC raised its stake in shares of Carrier Global by 4.3% in the first quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after buying an additional 180 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in shares of Carrier Global by 2.3% during the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after buying an additional 182 shares in the last quarter. 91.00% of the stock is currently 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.