Carrier Global (NYSE:CARR) Price Target Lowered to $80.00 at Stephens

Carrier Global (NYSE:CARR) had its price objective lowered by Stephens from $85.00 to $80.00 in a research report released on Monday morning, Benzinga reports. Stephens currently has an equal weight rating on the stock.

Several other equities research analysts have also recently commented on CARR. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Bank of America increased their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Oppenheimer lifted their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley initiated coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Carrier Global Price Performance

CARR opened at $73.60 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The stock has a market capitalization of $66.44 billion, a PE ratio of 51.47, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The stock’s 50 day moving average price is $76.80 and its 200-day moving average price is $68.32. Carrier Global has a 52-week low of $47.12 and a 52-week high of $83.32.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Carrier Global declared that its board has initiated a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Maia Wealth LLC bought a new position in shares of Carrier Global during the 3rd quarter valued at $73,000. Radnor Capital Management LLC increased its position in Carrier Global by 10.7% during the third quarter. Radnor Capital Management LLC now owns 4,642 shares of the company’s stock valued at $374,000 after acquiring an additional 450 shares during the last quarter. Catalina Capital Group LLC lifted its holdings in Carrier Global by 9.8% in the third quarter. Catalina Capital Group LLC now owns 4,757 shares of the company’s stock valued at $383,000 after acquiring an additional 424 shares during the period. Avidian Wealth Enterprises LLC purchased a new position in Carrier Global in the third quarter worth about $205,000. Finally, Balentine LLC bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $225,000. Hedge funds and other institutional investors 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.