Mizuho Increases Carrier Global (NYSE:CARR) Price Target to $78.00

Carrier Global (NYSE:CARR) had its price target lifted by analysts at Mizuho from $65.00 to $78.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price would suggest a potential downside of 4.35% from the company’s previous close.

CARR has been the subject of several other reports. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Barclays upped their price objective on shares of Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Stephens cut shares of Carrier Global from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $75.00 to $85.00 in a research note on Wednesday. Finally, Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $80.67.

Carrier Global Stock Performance

NYSE CARR opened at $81.55 on Thursday. The firm’s fifty day moving average price is $75.32 and its two-hundred day moving average price is $67.15. Carrier Global has a 1 year low of $45.68 and a 1 year high of $83.32. The firm has a market capitalization of $73.48 billion, a P/E ratio of 57.03, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

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

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The stock was 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carrier Global

Several hedge funds have recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the 2nd quarter valued at $32,000. Register Financial Advisors LLC bought a new position in shares of Carrier Global in the 1st quarter valued at $34,000. Finally, Rise Advisors LLC raised its holdings in shares of Carrier Global by 3,668.8% during the 1st quarter. Rise Advisors LLC now owns 603 shares of the company’s stock worth $35,000 after buying an additional 587 shares in the last quarter. 91.00% of the stock is 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.