Carrier Global (NYSE:CARR) PT Raised to $80.00 at Bank of America

Carrier Global (NYSE:CARR) had its price target increased by research analysts at Bank of America from $72.00 to $80.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 4.56% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Barclays upped their price target on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Robert W. Baird lowered their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.73.

Carrier Global Stock Up 1.5 %

Shares of NYSE CARR opened at $76.51 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. The business’s 50 day moving average is $68.05 and its two-hundred day moving average is $63.22. Carrier Global has a 52-week low of $45.68 and a 52-week high of $77.48. The firm has a market cap of $68.94 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 2.94 and a beta of 1.32.

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

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carrier Global

Several institutional investors have recently added to or reduced their stakes in CARR. Marathon Capital Management increased its holdings in shares of Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after purchasing an additional 156 shares during the period. Savant Capital LLC increased its stake in Carrier Global by 0.5% in the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after buying an additional 162 shares during the period. Founders Capital Management LLC raised its position in Carrier Global by 3.4% during the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after buying an additional 175 shares during the last quarter. Manchester Capital Management LLC raised its position in Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after buying an additional 180 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after acquiring an additional 182 shares during the period. 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.