Carrier Global (NYSE:CARR) Sets New 1-Year High at $73.16

Carrier Global Co. (NYSE:CARR) hit a new 52-week high during trading on Wednesday . The company traded as high as $73.16 and last traded at $73.11, with a volume of 2521615 shares trading hands. The stock had previously closed at $71.83.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America raised Carrier Global from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. Wells Fargo & Company lifted their target price on shares of Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Oppenheimer raised their price target on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $70.17.

Carrier Global Stock Performance

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’s 50-day simple moving average is $67.34 and its two-hundred day simple moving average is $62.85. The stock has a market cap of $66.21 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.32.

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

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carrier Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. grew its holdings in shares of 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 bought a new position in shares of Carrier Global in the second quarter valued at about $32,000. United Community Bank acquired a new position in Carrier Global during the 4th quarter worth about $34,000. Finally, Register Financial Advisors LLC bought a new stake in Carrier Global during the 1st quarter worth about $34,000. 91.00% of the stock is currently owned by 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.