Carrier Global (NYSE:CARR) Shares Gap Up to $54.77

Shares of Carrier Global Co. (NYSE:CARR - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $54.77, but opened at $56.75. Carrier Global shares last traded at $59.00, with a volume of 3,114,382 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CARR shares. Oppenheimer reaffirmed an "outperform" rating and set a $63.00 target price on shares of Carrier Global in a research note on Thursday, April 18th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $63.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 7th. Barclays increased their price target on shares of Carrier Global from $71.00 to $78.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reduced their price target on shares of Carrier Global from $63.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 7th. Finally, Citigroup increased their price target on shares of Carrier Global from $60.00 to $63.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Three investment 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $61.15.

Carrier Global Trading Up 9.2 %

The business's 50-day moving average price is $56.41 and its 200-day moving average price is $54.79. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. The firm has a market capitalization of $53.84 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 2.33 and a beta of 1.39.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm's revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, analysts expect that Carrier Global Co. will post 2.82 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, May 2nd. Carrier Global's payout ratio is 48.10%.

Insider Buying and Selling at Carrier Global

In other Carrier Global 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 value of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares of the company's stock, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Carrier Global 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 value of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares of the company's stock, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the company's 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 $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Modera Wealth Management LLC raised its position in shares of Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company's stock valued at $1,165,000 after acquiring an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc increased its position in Carrier Global by 9.0% in the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company's stock worth $332,000 after buying an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. acquired a new stake in Carrier Global in the fourth quarter worth $2,081,000. abrdn plc increased its position in Carrier Global by 40.6% in the fourth quarter. abrdn plc now owns 751,661 shares of the company's stock worth $43,183,000 after buying an additional 217,144 shares during the period. Finally, AIA Group Ltd increased its position in Carrier Global by 16.5% in the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company's stock worth $5,685,000 after buying an additional 14,003 shares during the period. 91.00% of the stock is 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.