Oppenheimer Boosts Carrier Global (NYSE:CARR) Price Target to $88.00

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

A number of other brokerages also recently issued reports on CARR. Wells Fargo & Company boosted 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. Royal Bank of Canada boosted their target price on shares of Carrier Global from $72.00 to $79.00 and gave the company an outperform rating in a report on Thursday, September 5th. Robert W. Baird decreased their price target on Carrier Global from $75.00 to $74.00 and set an outperform rating for the company in a report on Friday, July 26th. Wolfe Research raised Carrier Global from an underperform rating to a peer perform rating in a research note on Friday, September 6th. Finally, Baird R W raised Carrier Global from a hold rating to a strong-buy rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $73.82.

Carrier Global Stock Performance

NYSE CARR opened at $80.79 on Wednesday. The company has a market capitalization of $72.79 billion, a price-to-earnings ratio of 56.50, a PEG ratio of 3.23 and a beta of 1.32. 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 twelve month low of $45.68 and a twelve month high of $81.64. The stock has a fifty day simple moving average of $72.10 and a 200 day simple moving average of $65.53.

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

Insider Transactions at Carrier Global

In related 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 completion of the sale, the vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Carrier Global

A number of hedge funds 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 approximately $25,000. Meeder Asset Management Inc. raised its position in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in Carrier Global during the 2nd quarter valued at $32,000. Register Financial Advisors LLC purchased a new position in Carrier Global during the 1st quarter worth $34,000. Finally, Rise Advisors LLC grew its stake in shares of Carrier Global by 3,668.8% in the 1st quarter. Rise Advisors LLC now owns 603 shares of the company’s stock worth $35,000 after acquiring an additional 587 shares in the last quarter. 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.