Oppenheimer Raises Carrier Global (NYSE:CARR) Price Target to $71.00

Carrier Global (NYSE:CARR) had its price objective lifted by Oppenheimer from $64.00 to $71.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Citigroup raised shares of Carrier Global from a neutral rating to a buy rating and raised their price target for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Wells Fargo & Company lifted their target price on Carrier Global from $59.00 to $66.00 and gave the company an equal weight rating in a research report on Friday, April 26th. Barclays upped their price target on Carrier Global from $79.00 to $81.00 and gave the stock an overweight rating in a report on Friday, June 14th. Robert W. Baird raised their price objective on Carrier Global from $60.00 to $64.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Finally, TD Cowen upped their target price on shares of Carrier Global from $66.00 to $70.00 and gave the stock a buy rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $64.14.

Carrier Global Trading Down 0.2 %

Shares of Carrier Global stock opened at $63.08 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. Carrier Global has a 52 week low of $45.68 and a 52 week high of $66.50. The stock has a 50 day moving average price of $63.18 and a two-hundred day moving average price of $58.73. The stock has a market capitalization of $56.84 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 2.55 and a beta of 1.33.

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 the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. As a group, equities analysts anticipate that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.20%. Carrier Global’s dividend payout ratio is 53.15%.

Insiders Place Their Bets

In related news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Kyle Crockett sold 4,611 shares of the business’s 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 transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $9,906,734.25. The disclosure for this sale can be found here. Insiders have sold a total of 262,954 shares of company stock worth $16,650,050 over the last 90 days. Corporate insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently added to or reduced their stakes in CARR. JPMorgan Chase & Co. boosted its position in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares during the last quarter. Norges Bank bought a new stake in Carrier Global during the fourth quarter valued at approximately $444,487,000. Capital International Investors lifted its position in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. Capital Research Global Investors grew its stake in Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after buying an additional 2,961,923 shares in the last quarter. Finally, Bristol Gate Capital Partners Inc. bought a new position in shares of Carrier Global in the 4th quarter worth $92,651,000. 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.