Carrier Global (NYSE:CARR) Given New $70.00 Price Target at TD Cowen

Carrier Global (NYSE:CARR - Get Free Report) had its price objective increased by equities researchers at TD Cowen from $66.00 to $70.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price objective would indicate a potential upside of 11.52% from the company's current price.

Other research analysts have also issued reports about the company. Royal Bank of Canada cut their target price on Carrier Global from $63.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 7th. Wells Fargo & Company increased their price target on Carrier Global from $59.00 to $66.00 and gave the company an "equal weight" rating in a report on Friday. Oppenheimer increased their price target on Carrier Global from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Friday. Barclays increased their price target on Carrier Global from $78.00 to $79.00 and gave the company an "overweight" rating in a report on Friday. Finally, Citigroup increased their price target on Carrier Global from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $62.62.

Carrier Global Price Performance

CARR stock traded up $2.27 on Monday, reaching $62.77. The company had a trading volume of 9,086,712 shares, compared to its average volume of 4,870,130. Carrier Global has a 1 year low of $40.28 and a 1 year high of $62.88. 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 company's fifty day moving average is $56.54 and its 200 day moving average is $54.82. The company has a market cap of $56.56 billion, a P/E ratio of 43.64, a PEG ratio of 2.53 and a beta of 1.39.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CARR. McClarren Financial Advisors Inc. grew its position in Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company's stock worth $25,000 after buying an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Carrier Global in the fourth quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new position in Carrier Global in the fourth quarter worth approximately $27,000. OFI Invest Asset Management acquired a new position in Carrier Global in the third quarter worth approximately $28,000. Finally, Larson Financial Group LLC grew its position in Carrier Global by 76.2% in the third 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. 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.