Carrier Global (NYSE:CARR) Sets New 52-Week High at $77.68

Shares of Carrier Global Co. (NYSE:CARR) hit a new 52-week high on Tuesday . The stock traded as high as $77.68 and last traded at $77.17, with a volume of 201499 shares trading hands. The stock had previously closed at $77.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CARR shares. Robert W. Baird cut their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays lifted their target price on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Bank of America increased their price target on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Finally, Royal Bank of Canada raised their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $71.73.

Carrier Global Stock Performance

The stock’s 50-day moving average price is $68.93 and its 200-day moving average price is $63.69. The company has a market capitalization of $70.45 billion, a price-to-earnings ratio of 54.68, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last announced its quarterly 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. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts expect that Carrier Global Co. will post 2.84 earnings per share for the current year.

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 stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aveo Capital Partners LLC increased its position in Carrier Global by 3.9% during the 4th quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock worth $310,000 after purchasing an additional 205 shares in the last quarter. Jump Financial LLC purchased a new stake in Carrier Global during the 4th quarter worth $241,000. Level Four Advisory Services LLC lifted its stake in shares of Carrier Global by 6.6% during the fourth quarter. Level Four Advisory Services LLC now owns 5,061 shares of the company’s stock worth $291,000 after purchasing an additional 312 shares in the last quarter. ING Groep NV acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $532,000. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Carrier Global by 3.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 8,212 shares of the company’s stock valued at $472,000 after buying an additional 264 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.