Brokerages Set Carrier Global Co. (NYSE:CARR) PT at $62.86

Carrier Global Co. (NYSE:CARR) has earned a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $62.86.

CARR has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. TD Cowen boosted their target price on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Oppenheimer boosted their target price on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Barclays boosted their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th.

Carrier Global Stock Down 2.1 %

Shares of Carrier Global stock opened at $62.86 on Monday. The firm’s 50 day moving average price is $62.25 and its 200-day moving average price is $58.36. 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 company has a market cap of $56.64 billion, a P/E ratio of 43.96, a PEG ratio of 2.65 and a beta of 1.33.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. On average, sell-side analysts predict that Carrier Global will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm 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 1.21%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling at Carrier Global

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

Hedge Funds Weigh In On Carrier Global

Large investors have recently made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its stake in shares of Carrier Global by 86.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of Carrier Global in the 4th quarter valued at $25,000. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $27,000. VisionPoint Advisory Group LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $30,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $32,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.