Carrier Global Co. (NYSE:CARR) Receives $80.67 Average Target Price from Analysts

Shares of Carrier Global Co. (NYSE:CARR) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $80.67.

Several analysts have commented on the stock. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their target price on Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley started coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Barclays lifted their price objective on shares of Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th.

Carrier Global Stock Performance

Shares of CARR stock opened at $80.16 on Friday. The firm has a market cap of $72.23 billion, a price-to-earnings ratio of 56.06, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global has a 52-week low of $45.68 and a 52-week high of $83.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $75.95 and its 200 day moving average is $67.64.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $0.79 EPS. On average, sell-side analysts anticipate that Carrier Global will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.95%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Activity at Carrier Global

In other Carrier Global 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 transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Carrier Global in the 4th quarter valued at about $209,000. RFG Advisory LLC lifted its holdings in shares of Carrier Global by 14.9% in the 1st quarter. RFG Advisory LLC now owns 5,779 shares of the company’s stock worth $336,000 after acquiring an additional 749 shares during the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of Carrier Global by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 69,001 shares of the company’s stock worth $4,011,000 after acquiring an additional 440 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Carrier Global by 6.8% during the 1st quarter. International Assets Investment Management LLC now owns 10,309 shares of the company’s stock worth $592,000 after purchasing an additional 659 shares during the period. Finally, Ballentine Partners LLC increased its holdings in Carrier Global by 35.7% in the 1st quarter. Ballentine Partners LLC now owns 13,524 shares of the company’s stock valued at $786,000 after purchasing an additional 3,556 shares during the last quarter. 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.