Carrier Global (NYSE:CARR) Price Target Cut to $85.00 by Analysts at Robert W. Baird

Carrier Global (NYSE:CARR - Get Free Report) had its price objective decreased by equities researchers at Robert W. Baird from $88.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's target price would suggest a potential upside of 11.48% from the company's current price.

A number of other research firms also recently commented on CARR. Citigroup restated a "buy" rating and issued a $89.00 price objective (up from $82.00) on shares of Carrier Global in a report on Monday. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Wells Fargo & Company raised their target price on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Barclays raised their target price on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.65.

Carrier Global Trading Up 1.1%

NYSE CARR traded up $0.81 during trading hours on Thursday, hitting $76.24. 1,035,423 shares of the company's stock were exchanged, compared to its average volume of 4,673,635. The business's 50 day moving average is $72.88 and its 200-day moving average is $67.75. Carrier Global has a 12-month low of $54.22 and a 12-month high of $83.32. The firm has a market capitalization of $65.36 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. The company 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 company's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. As a group, analysts anticipate that Carrier Global will post 2.99 EPS for the current fiscal year.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the transaction, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CARR. Brighton Jones LLC boosted its position in Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after purchasing an additional 1,850 shares during the period. Proficio Capital Partners LLC boosted its position in Carrier Global by 62.6% during the 4th quarter. Proficio Capital Partners LLC now owns 7,198 shares of the company's stock valued at $491,000 after purchasing an additional 2,770 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Carrier Global by 3.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 33,971 shares of the company's stock valued at $2,319,000 after purchasing an additional 1,245 shares during the period. Generali Asset Management SPA SGR acquired a new position in Carrier Global during the 4th quarter valued at approximately $2,584,000. Finally, Teacher Retirement System of Texas boosted its position in Carrier Global by 782.7% during the 4th quarter. Teacher Retirement System of Texas now owns 47,923 shares of the company's stock valued at $3,271,000 after purchasing an additional 42,494 shares during the period. Institutional investors and hedge funds 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.

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