Kaplowitz Maintains Buy Rating on Carrier Global Amid Mixed Insider Sentiment
Carrier Global (CARR), an industrial equipment company, has received a buy rating from top analyst Andrew Kaplowitz of Citi. The company's shares closed at $63.44 on Tuesday, August 11. This update maintains the positive outlook expressed by Kaplowitz in his previous report.
Kaplowitz is considered one of TipRanks' top 100 analysts, with an average return of 26.4% and a success rate of 70.91%. He covers the Industrials sector, including stocks such as Honeywell International, Aecom Technology, and Illinois Tool Works.
Notably, Carrier Global also received a buy rating from Jefferies's Stephen Volkmann on July 29, but was downgraded to hold by Bernstein on August 3. The company's recent earnings release for the quarter ending June 30 showed revenue of $6.35 billion and net profit of $501 million, compared to last year's $6.11 billion in revenue and $591 million in net profit.
Corporate insider activity is a mixed signal, with 20 insiders having sold shares over the past quarter, indicating negative sentiment on the stock. This includes a significant sale by Director Maximilian Viessmann in May, when he sold 12,094,823 shares for $749,999,974.23.