Carrier Global (NYSE:CARR) Sets New 52-Week High Following Analyst Upgrade

Carrier Global Co. (NYSE:CARR - Get Free Report) reached a new 52-week high on Monday after Robert W. Baird raised their price target on the stock from $60.00 to $64.00. Robert W. Baird currently has a neutral rating on the stock. Carrier Global traded as high as $63.91 and last traded at $64.16, with a volume of 674686 shares changing hands. The stock had previously closed at $62.09.

Several other equities analysts have also recently issued reports on the company. Citigroup lifted their price objective on Carrier Global from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Barclays lifted their price objective on Carrier Global from $78.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday, April 26th. Oppenheimer lifted their price objective on Carrier Global from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, April 26th. Wells Fargo & Company boosted their target price on Carrier Global from $59.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Friday, April 26th. Finally, TD Cowen boosted their target price on Carrier Global from $66.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $62.71.

Insider Transactions at Carrier Global

In other news, VP Kevin J. O'connor sold 26,551 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin J. O'connor sold 26,551 shares of the firm's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares of the company's stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Insiders sold 541,005 shares of company stock worth $30,536,214 over the last 90 days. 6.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. McClarren Financial Advisors Inc. boosted its stake in shares of Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company's stock valued at $25,000 after acquiring an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Carrier Global in the 4th quarter worth about $25,000. EdgeRock Capital LLC acquired a new stake in Carrier Global in the 4th quarter worth about $27,000. OFI Invest Asset Management acquired a new stake in Carrier Global in the 3rd quarter worth about $28,000. Finally, Larson Financial Group LLC boosted its stake in Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company's stock worth $28,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Trading Up 3.2 %

The stock has a market capitalization of $57.72 billion, a price-to-earnings ratio of 44.80, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The business has a 50 day simple moving average of $57.53 and a 200-day simple moving average of $55.24.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating the consensus estimate 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 return on equity of 26.01% and a net margin of 5.41%. On average, equities analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders 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 1.19%. Carrier Global's payout ratio is 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.