Carrier Global (NYSE:CARR) PT Lowered to $80.00

Carrier Global (NYSE:CARR) had its price objective reduced by equities research analysts at Stephens from $85.00 to $80.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ target price indicates a potential upside of 8.18% from the stock’s previous close.

A number of other brokerages have also recently commented on CARR. Royal Bank of Canada dropped their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Wells Fargo & Company decreased their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday. Mizuho boosted their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays cut their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global Stock Up 0.3 %

CARR traded up $0.23 on Monday, hitting $73.95. The company had a trading volume of 461,785 shares, compared to its average volume of 4,137,347. Carrier Global has a 52-week low of $46.77 and a 52-week high of $83.32. The stock has a fifty day simple moving average of $76.46 and a 200-day simple moving average of $68.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The firm has a market capitalization of $66.63 billion, a P/E ratio of 51.71, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released 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. 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 firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. As a group, equities analysts expect that Carrier Global will post 2.85 EPS for the current fiscal year.

Carrier Global announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

A number of hedge funds have recently bought and sold shares of CARR. Olistico Wealth LLC purchased a new stake in Carrier Global during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its position in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global in the 2nd quarter worth $32,000. Hantz Financial Services Inc. purchased a new stake in shares of Carrier Global in the 2nd quarter worth $35,000. Finally, McClarren Financial Advisors Inc. lifted its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.