Carrier Global (NYSE:CARR) Reaches New 52-Week High at $81.64

Carrier Global Co. (NYSE:CARR)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $81.64 and last traded at $81.08, with a volume of 125291 shares. The stock had previously closed at $80.88.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CARR. Royal Bank of Canada increased their price target on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $74.00 in a report on Monday, June 24th. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

Carrier Global Stock Performance

The firm’s 50-day moving average price is $69.76 and its two-hundred day moving average price is $64.21. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The stock has a market cap of $73.01 billion, a price-to-earnings ratio of 56.55, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Insider Buying and Selling at Carrier Global

In other 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 sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

Several large investors have recently bought and sold shares of the stock. Aveo Capital Partners LLC lifted its position in shares of 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 during the last quarter. Jump Financial LLC purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $241,000. Orion Portfolio Solutions LLC lifted its position in shares of Carrier Global by 46.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 38,216 shares of the company’s stock worth $2,156,000 after buying an additional 12,112 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Carrier Global by 4.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 220,550 shares of the company’s stock valued at $12,671,000 after buying an additional 8,724 shares during the last quarter. Finally, Glassman Wealth Services raised its stake in Carrier Global by 13.7% during the 4th quarter. Glassman Wealth Services now owns 2,213 shares of the company’s stock worth $127,000 after acquiring an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.