Oppenheimer Reiterates "Outperform" Rating for Carrier Global (NYSE:CARR)

Oppenheimer reissued their outperform rating on shares of Carrier Global (NYSE:CARR - Free Report) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $63.00 target price on the stock.

CARR has been the topic of several other reports. Royal Bank of Canada dropped their target price 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. Wells Fargo & Company reduced their target price on Carrier Global from $63.00 to $57.00 and set an equal weight rating for the company in a report on Wednesday, February 7th. Barclays lifted their price target on Carrier Global from $71.00 to $78.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Finally, Citigroup increased their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Carrier Global has an average rating of Hold and a consensus target price of $61.15.

Carrier Global Stock Performance

Shares of NYSE:CARR traded down $0.87 on Thursday, hitting $53.38. The company's stock had a trading volume of 3,050,494 shares, compared to its average volume of 4,685,329. Carrier Global has a 12 month low of $40.28 and a 12 month high of $60.87. The stock's 50-day moving average is $56.41 and its two-hundred day moving average is $54.75. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. The company has a market capitalization of $48.05 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. Carrier Global's revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. On average, equities research analysts forecast that Carrier Global will post 2.82 EPS for the current year.

Insider Transactions at Carrier Global

In related news, VP Kevin J. O'connor sold 26,551 shares of Carrier Global 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 transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 422,808 shares of the company's stock, valued at approximately $22,899,281.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kevin J. O'connor sold 26,551 shares of the business's stock in a transaction dated 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 transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Farmers & Merchants Investments Inc. lifted its stake in Carrier Global by 1.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 74,762 shares of the company's stock worth $4,346,000 after purchasing an additional 997 shares during the period. Cullinan Associates Inc. lifted its position in shares of Carrier Global by 126.1% during the 1st quarter. Cullinan Associates Inc. now owns 9,498 shares of the company's stock worth $552,000 after buying an additional 5,298 shares during the period. LVW Advisors LLC boosted its stake in Carrier Global by 10.4% in the 1st quarter. LVW Advisors LLC now owns 7,362 shares of the company's stock valued at $428,000 after buying an additional 694 shares in the last quarter. Chemung Canal Trust Co. grew its position in Carrier Global by 2.9% in the first quarter. Chemung Canal Trust Co. now owns 7,915 shares of the company's stock valued at $460,000 after acquiring an additional 220 shares during the period. Finally, Grimes & Company Inc. raised its stake in Carrier Global by 5.1% during the first quarter. Grimes & Company Inc. now owns 11,165 shares of the company's stock worth $649,000 after acquiring an additional 540 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

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.