Carrier Global (NYSE:CARR) Coverage Initiated at Melius

Melius started coverage on shares of Carrier Global (NYSE:CARR - Get Free Report) in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage set a "hold" rating and a $90.00 price target on the stock. Melius' target price points to a potential upside of 22.97% from the company's current price.

Several other research analysts have also issued reports on CARR. Mizuho set a $72.00 price target on shares of Carrier Global in a research report on Tuesday, April 22nd. Barclays increased their target price on Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Royal Bank Of Canada lifted their price objective on Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $83.44.

Carrier Global Stock Performance

NYSE CARR opened at $73.19 on Tuesday. The company's fifty day moving average is $70.24 and its two-hundred day moving average is $67.19. Carrier Global has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. The firm has a market capitalization of $62.75 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 2.07 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. Equities research analysts forecast that Carrier Global will post 2.99 EPS for the current year.

Insider Activity

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director owned 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 7.20% of the company's stock.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Carrier Global by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock valued at $1,181,300,000 after acquiring an additional 420,081 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Carrier Global in the first quarter valued at about $649,512,000. Brown Advisory Inc. increased its position in shares of Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after acquiring an additional 4,377,402 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock worth $603,922,000 after acquiring an additional 1,266,137 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.