Carrier Global (NYSE:CARR) Hits New 52-Week High on Analyst Upgrade

Carrier Global Co. (NYSE:CARR - Get Free Report)'s share price reached a new 52-week high on Monday after TD Cowen raised their price target on the stock from $66.00 to $70.00. TD Cowen currently has a buy rating on the stock. Carrier Global traded as high as $61.90 and last traded at $61.89, with a volume of 862133 shares traded. The stock had previously closed at $60.50.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company upped their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Friday. Oppenheimer upped their target price on Carrier Global from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Friday. Royal Bank of Canada cut their price target on Carrier Global from $63.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 7th. Citigroup increased their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Finally, Barclays lifted their target price on shares of Carrier Global from $78.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Carrier Global has an average rating of "Hold" and a consensus price target of $62.62.

Insider Activity at Carrier Global

In other news, CEO David L. Gitlin sold 354,539 shares of the company's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares of the company's stock, valued at $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO David L. Gitlin sold 354,539 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares of the company's stock, valued at $22,899,281.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kevin J. O'connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Company insiders own 6.95% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Simplicity Solutions LLC boosted its position in shares of Carrier Global by 5.6% during the third quarter. Simplicity Solutions LLC now owns 29,604 shares of the company's stock worth $1,634,000 after buying an additional 1,565 shares during the period. Ballentine Partners LLC raised its position in shares of Carrier Global by 4.2% during the 3rd quarter. Ballentine Partners LLC now owns 7,318 shares of the company's stock worth $404,000 after buying an additional 298 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Carrier Global by 5.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 10,586 shares of the company's stock worth $584,000 after acquiring an additional 584 shares during the period. HCR Wealth Advisors bought a new stake in Carrier Global during the third quarter worth approximately $216,000. Finally, PDS Planning Inc acquired a new stake in Carrier Global in the third quarter worth approximately $205,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Trading Up 3.8 %

The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The business has a 50 day simple moving average of $56.54 and a 200-day simple moving average of $54.82. The stock has a market capitalization of $56.56 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 2.53 and a beta of 1.39.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, analysts predict that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Carrier Global's dividend payout ratio (DPR) is presently 53.15%.

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.