TD Cowen Increases Carrier Global (NYSE:CARR) Price Target to $70.00

Carrier Global (NYSE:CARR) had its price objective raised by equities research analysts at TD Cowen from $66.00 to $70.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 13.84% from the company’s current price.

Several other research analysts have also issued reports on the company. Citigroup increased their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company increased their target price on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Oppenheimer increased their target price on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Barclays raised their price objective on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada reduced their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.62.

Carrier Global Trading Down 1.9 %

NYSE CARR opened at $61.49 on Monday. Carrier Global has a fifty-two week low of $40.28 and a fifty-two week high of $63.79. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a 50 day simple moving average of $56.88 and a two-hundred day simple moving average of $54.94. The stock has a market cap of $55.40 billion, a P/E ratio of 43.00, a price-to-earnings-growth ratio of 2.53 and a beta of 1.39.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The firm had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. On average, analysts forecast that Carrier Global will post 2.84 earnings per share for the current year.

Insiders Place Their Bets

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. J.W. Cole Advisors Inc. boosted its stake in shares of Carrier Global by 24.2% in the 1st quarter. J.W. Cole Advisors Inc. now owns 14,732 shares of the company’s stock worth $855,000 after buying an additional 2,870 shares during the last quarter. North Star Investment Management Corp. boosted its stake in shares of Carrier Global by 4.5% in the 1st quarter. North Star Investment Management Corp. now owns 46,300 shares of the company’s stock worth $2,691,000 after buying an additional 1,985 shares during the last quarter. Norden Group LLC purchased a new position in shares of Carrier Global in the 1st quarter worth $235,000. HB Wealth Management LLC boosted its stake in shares of Carrier Global by 17.2% in the 1st quarter. HB Wealth Management LLC now owns 27,907 shares of the company’s stock worth $1,622,000 after buying an additional 4,104 shares during the last quarter. Finally, SpiderRock Advisors LLC purchased a new position in Carrier Global during the first quarter valued at $1,138,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.