Carrier Global (NYSE:CARR) Price Target Lowered to $89.00 at Barclays

Carrier Global (NYSE:CARR) had its target price reduced by stock analysts at Barclays from $90.00 to $89.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 20.73% from the stock’s previous close.

CARR has been the subject of several other reports. Mizuho lifted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer increased their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company cut their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.75.

Carrier Global Trading Up 1.4 %

CARR stock opened at $73.72 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market cap of $66.42 billion, a P/E ratio of 51.55, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global has a 1-year low of $45.68 and a 1-year high of $83.32. The business’s 50 day moving average is $76.46 and its 200-day moving average is $67.94.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.61 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Equities analysts anticipate that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Carrier Global announced that its board has authorized a share buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 approximately $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently added to or reduced their stakes in the stock. Olistico Wealth LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $25,000. McClarren Financial Advisors Inc. grew its holdings in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the period. Meeder Asset Management Inc. grew its holdings in Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the period. Country Trust Bank bought a new stake in Carrier Global in the third quarter valued at approximately $40,000. Finally, EdgeRock Capital LLC acquired a new stake in Carrier Global in the second quarter worth $32,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.