Carrier Global (NYSE:CARR) Given New $88.00 Price Target at Oppenheimer

Carrier Global (NYSE:CARR) had its price target lifted by Oppenheimer from $74.00 to $88.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Barclays increased their price target on Carrier Global from $79.00 to $81.00 and gave the stock an overweight rating in a research report on Friday, June 14th. Citigroup upgraded Carrier Global from a neutral rating to a buy rating and raised their target price for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Wells Fargo & Company upped their price target on shares of Carrier Global from $66.00 to $73.00 and gave the stock an equal weight rating in a research report on Friday, September 6th. Baird R W raised shares of Carrier Global from a hold rating to a strong-buy rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada raised their price target on shares of Carrier Global from $72.00 to $79.00 and gave the company an outperform rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $73.82.

Carrier Global Stock Performance

Shares of CARR opened at $80.80 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. Carrier Global has a 12-month low of $45.68 and a 12-month high of $81.64. The business’s fifty day moving average price is $72.10 and its 200 day moving average price is $65.58. The stock has a market capitalization of $72.80 billion, a PE ratio of 56.50, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. Equities research analysts forecast that Carrier Global will post 2.84 EPS for the current year.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently bought and sold shares of CARR. Nordea Investment Management AB lifted its stake in Carrier Global by 5.5% during the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after purchasing an additional 43,002 shares during the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after buying an additional 13,677 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Carrier Global during the 4th quarter valued at $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Carrier Global by 50.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after acquiring an additional 130,192 shares in the last quarter. Finally, GLOBALT Investments LLC GA acquired a new position in shares of Carrier Global in the 4th quarter worth $859,000. 91.00% of the stock is owned by institutional investors and hedge funds.

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.