Barclays Increases Carrier Global (NYSE:CARR) Price Target to $81.00

Carrier Global (NYSE:CARR) had its price objective lifted by Barclays from $79.00 to $81.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on CARR. Oppenheimer boosted their price objective on Carrier Global from $63.00 to $64.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Robert W. Baird boosted their price objective on Carrier Global from $60.00 to $64.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Citigroup boosted their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a research note on Monday, April 8th. TD Cowen boosted their price target on Carrier Global from $66.00 to $70.00 and gave the stock a buy rating in a research note on Monday, April 29th. Finally, Wells Fargo & Company boosted their price target on Carrier Global from $59.00 to $66.00 and gave the stock an equal weight rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $62.86.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $65.12 on Friday. The company has a market cap of $58.67 billion, a P/E ratio of 45.54, a P/E/G ratio of 2.60 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. Carrier Global has a 52 week low of $45.68 and a 52 week high of $66.50. The business has a fifty day simple moving average of $61.65 and a 200-day simple moving average of $58.11.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The firm had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. Equities research analysts forecast that Carrier Global will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, June 21st. Carrier Global’s payout ratio is currently 53.15%.

Insider Activity

In other news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 262,954 shares of company stock valued at $16,650,050. 6.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carrier Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. grew its holdings in Carrier Global by 86.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after buying an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in Carrier Global in the 4th quarter worth approximately $25,000. EdgeRock Capital LLC bought a new position in Carrier Global in the 4th quarter worth approximately $27,000. VisionPoint Advisory Group LLC bought a new position in Carrier Global during the 3rd quarter valued at $30,000. Finally, Criterion Capital Advisors LLC bought a new position in Carrier Global during the 4th quarter valued at $32,000. 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.