Carrier Global (NYSE:CARR) Reaches New 1-Year High – What’s Next?

Carrier Global Co. (NYSE:CARR)’s share price reached a new 52-week high on Tuesday . The company traded as high as $82.99 and last traded at $82.99, with a volume of 1269 shares changing hands. The stock had previously closed at $82.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CARR shares. Bank of America boosted their target price on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Oppenheimer lifted their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley started coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.50.

Carrier Global Stock Performance

The company has a market cap of $74.85 billion, a P/E ratio of 57.81, a price-to-earnings-growth ratio of 2.94 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. The company’s 50-day moving average is $73.93 and its two-hundred day moving average is $66.62.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. Equities analysts predict that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.91%. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s 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 transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marathon Capital Management grew its position in Carrier Global by 4.1% during the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after acquiring an additional 156 shares during the last quarter. Savant Capital LLC lifted its stake in Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after purchasing an additional 162 shares during the last quarter. Founders Capital Management LLC grew its stake in shares of Carrier Global by 3.4% during the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after buying an additional 175 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Carrier Global by 1.5% in the third quarter. Valeo Financial Advisors LLC now owns 12,244 shares of the company’s stock worth $986,000 after buying an additional 179 shares during the period. Finally, Manchester Capital Management LLC increased its holdings in shares of Carrier Global by 4.3% in the first 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 period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.