Carrier Global Co. (NYSE:CARR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Carrier Global Co. (NYSE:CARR) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $71.73.

A number of research analysts recently issued reports on the stock. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note 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 price target on the stock. Bank of America upped their price objective on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Royal Bank of Canada upped their target price on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Finally, Oppenheimer lifted their target price on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th.

Insider Transactions at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the 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 sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global in the second quarter valued at about $25,000. Meeder Asset Management Inc. grew its holdings 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 purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global during the 2nd quarter worth about $32,000. United Community Bank bought a new stake in shares of Carrier Global in the 4th quarter valued at $34,000. Finally, Register Financial Advisors LLC acquired a new stake in Carrier Global during the first quarter worth approximately $34,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Trading Down 1.4 %

Carrier Global stock opened at $79.33 on Wednesday. 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 12 month low of $45.68 and a 12 month high of $81.64. The company’s fifty day simple moving average is $71.23 and its 200-day simple moving average is $65.16. The stock has a market cap of $71.48 billion, a P/E ratio of 55.48, a P/E/G ratio of 3.23 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (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%. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, sell-side analysts forecast that Carrier Global will post 2.84 EPS for the current fiscal year.

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.