Robert W. Baird Trims Carrier Global (NYSE:CARR) Target Price to $86.00

Carrier Global (NYSE:CARR) had its price target reduced by analysts at Robert W. Baird from $88.00 to $86.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 16.66% from the company’s previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. assumed coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Barclays lifted their target price on 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 target price on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Morgan Stanley assumed coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Seven equities 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.75.

Carrier Global Trading Up 1.4 %

NYSE CARR opened at $73.72 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global has a twelve month low of $45.68 and a twelve month high of $83.32. The company has a market cap of $66.42 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The business’s fifty day moving average is $76.46 and its 200 day moving average is $67.94.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, October 24th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.61 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. As a group, sell-side analysts expect that Carrier Global will post 2.85 EPS for the current fiscal year.

Carrier Global declared that its board has approved a stock repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carrier Global

Institutional investors have recently made changes to their positions in the stock. Olistico Wealth LLC purchased a new stake in shares of Carrier Global during the second quarter worth $25,000. Meeder Asset Management Inc. lifted its position in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global during the second quarter worth $32,000. Register Financial Advisors LLC purchased a new stake in shares of Carrier Global during the first quarter worth $34,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Carrier Global during the second quarter worth $35,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Company Profile

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.