Carrier Global (NYSE:CARR) Sets New 12-Month High – Still a Buy?

Carrier Global Co. (NYSE:CARR) reached a new 52-week high on Wednesday . The stock traded as high as $81.82 and last traded at $81.78, with a volume of 1501311 shares. The stock had previously closed at $80.84.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Oppenheimer lifted their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Barclays increased their target price on shares of Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Finally, Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.36.

Carrier Global Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The stock’s fifty day simple moving average is $73.19 and its two-hundred day simple moving average is $66.15. The stock has a market capitalization of $73.67 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. As a group, research analysts expect that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.93%. Carrier Global’s dividend payout ratio (DPR) is 20.27%.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently bought and sold shares of CARR. Olistico Wealth LLC acquired a new position in shares of Carrier Global during the second quarter valued at about $25,000. Meeder Asset Management Inc. boosted its holdings in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new position in shares of Carrier Global in the 2nd quarter worth about $32,000. Register Financial Advisors LLC bought a new position in Carrier Global during the first quarter valued at about $34,000. Finally, Rise Advisors LLC increased its holdings in Carrier Global by 3,668.8% during the first quarter. Rise Advisors LLC now owns 603 shares of the company’s stock worth $35,000 after buying an additional 587 shares during the last quarter. 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.