Carrier Global (NYSE:CARR) Given New $70.00 Price Target at TD Cowen

Carrier Global (NYSE:CARR) had its price objective lifted by TD Cowen from $66.00 to $70.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

CARR has been the subject of several other research reports. Citigroup boosted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Oppenheimer boosted their price objective on Carrier Global from $63.00 to $64.00 and gave the company an outperform rating in a report on Friday. Barclays increased their target price on Carrier Global from $78.00 to $79.00 and gave the stock an overweight rating in a report on Friday. Wells Fargo & Company boosted their price target on Carrier Global from $59.00 to $66.00 and gave the company an equal weight rating in a report on Friday. Finally, Royal Bank of Canada reduced their price objective on Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $62.62.

Carrier Global Price Performance

Shares of NYSE CARR opened at $62.77 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. Carrier Global has a fifty-two week low of $40.28 and a fifty-two week high of $62.88. The business has a 50 day moving average price of $56.72 and a two-hundred day moving average price of $54.88. The firm has a market cap of $56.50 billion, a PE ratio of 43.90, a price-to-earnings-growth ratio of 2.53 and a beta of 1.39.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.50 by $0.12. The company had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Sell-side analysts expect that Carrier Global will post 2.84 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.21%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Buying and Selling at Carrier Global

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

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently modified their holdings of CARR. Beese Fulmer Investment Management Inc. lifted its position in Carrier Global by 0.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock worth $1,119,000 after purchasing an additional 181 shares during the period. Sunbelt Securities Inc. lifted its holdings in shares of Carrier Global by 2.3% in the first quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after buying an additional 182 shares during the period. Graypoint LLC boosted its stake in Carrier Global by 1.9% during the fourth quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after buying an additional 184 shares in the last quarter. Sovereign Financial Group Inc. boosted its stake in Carrier Global by 4.7% during the fourth quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock valued at $243,000 after buying an additional 188 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in Carrier Global by 2.3% during the first quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock worth $517,000 after acquiring an additional 197 shares during the period. 91.00% of the stock is currently owned by 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.