Carrier Global Co. (NYSE:CARR) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Carrier Global Co. (NYSE:CARRGet Free Report) have earned an average rating of “Hold” from the fourteen brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $59.36.

Several research analysts have issued reports on CARR shares. Barclays raised their price target on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday. Wells Fargo & Company decreased their price target on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada cut their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Finally, Citigroup lifted their price objective on shares of Carrier Global from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, December 11th.

Check Out Our Latest Report on Carrier Global

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Carrier Global by 712.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock worth $799,843,000 after purchasing an additional 15,330,140 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Carrier Global by 83,676.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock worth $346,925,000 after purchasing an additional 8,400,264 shares during the last quarter. Norges Bank purchased a new position in shares of Carrier Global in the 4th quarter worth about $444,487,000. C WorldWide Group Holding A S purchased a new position in shares of Carrier Global in the 3rd quarter worth about $260,761,000. Finally, Victory Capital Management Inc. raised its position in Carrier Global by 1,140.8% in the 4th quarter. Victory Capital Management Inc. now owns 4,138,117 shares of the company’s stock worth $170,697,000 after buying an additional 3,804,624 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 1.1 %

CARR opened at $56.79 on Wednesday. The company’s 50 day moving average is $56.26 and its 200-day moving average is $54.58. Carrier Global has a 1-year low of $40.28 and a 1-year high of $60.87. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. The company has a market cap of $51.12 billion, a P/E ratio of 35.94, a PEG ratio of 2.44 and a beta of 1.39.

Carrier Global (NYSE:CARRGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the company earned $0.40 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts predict that Carrier Global will post 2.82 earnings per share for the current fiscal year.

About Carrier Global

(Get Free Report

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.

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Analyst Recommendations for Carrier Global (NYSE:CARR)

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