Carrier Global (NYSE:CARR) Given New $70.00 Price Target at Wells Fargo & Company

Carrier Global (NYSE:CARR) had its price target cut by research analysts at Wells Fargo & Company from $75.00 to $70.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.88% from the company’s current price.

CARR has been the topic of a number of other reports. Bank of America lifted their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Northcoast Research started coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Mizuho lifted their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird decreased their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.36.

Carrier Global Stock Down 2.2 %

NYSE:CARR traded down $1.46 during trading hours on Wednesday, hitting $63.70. 1,255,981 shares of the company traded hands, compared to its average volume of 5,641,625. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm’s 50-day simple moving average is $68.78 and its 200-day simple moving average is $72.40. Carrier Global has a one year low of $53.13 and a one year high of $83.32. The company has a market cap of $57.16 billion, a PE ratio of 16.13, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same quarter in the previous year, the business posted $0.53 EPS. Equities analysts predict that Carrier Global will post 2.52 earnings per share for the current year.

Carrier Global announced that its Board of Directors has initiated a share buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Carrier Global

Large investors have recently modified their holdings of the business. FSA Wealth Management LLC bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $28,000. BOK Financial Private Wealth Inc. lifted its position in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after buying an additional 160 shares during the last quarter. McClarren Financial Advisors Inc. lifted its position in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares during the last quarter. Coastline Trust Co bought a new stake in Carrier Global in the 3rd quarter worth approximately $37,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in Carrier Global in the 4th quarter worth approximately $31,000. Institutional investors 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.