Carrier Global (NYSE:CARR) Coverage Initiated at Northcoast Research

Northcoast Research began coverage on shares of Carrier Global (NYSE:CARR) in a report published on Friday morning, Marketbeat Ratings reports. The firm issued a neutral rating on the stock.

A number of other research analysts have also weighed in on CARR. Oppenheimer lifted their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reduced their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Robert W. Baird decreased their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Barclays reduced their price target on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. began coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Trading Up 2.4 %

Shares of CARR stock opened at $78.86 on Friday. The company has a market cap of $70.76 billion, a P/E ratio of 19.96, a PEG ratio of 2.77 and a beta of 1.34. Carrier Global has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The stock has a 50 day simple moving average of $77.92 and a two-hundred day simple moving average of $70.41. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global announced that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, October 25th. Carrier Global’s payout ratio is presently 19.24%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CARR. Wilmington Savings Fund Society FSB raised its position in shares of Carrier Global by 280.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 34,717 shares of the company’s stock worth $2,794,000 after acquiring an additional 25,594 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Carrier Global by 0.3% in the third quarter. Sanctuary Advisors LLC now owns 70,379 shares of the company’s stock valued at $5,419,000 after purchasing an additional 237 shares during the last quarter. Anchor Investment Management LLC raised its holdings in Carrier Global by 6.6% in the third quarter. Anchor Investment Management LLC now owns 5,745 shares of the company’s stock worth $462,000 after purchasing an additional 355 shares in the last quarter. M&T Bank Corp lifted its position in shares of Carrier Global by 8.9% during the third quarter. M&T Bank Corp now owns 311,453 shares of the company’s stock valued at $25,069,000 after buying an additional 25,346 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its holdings in shares of Carrier Global by 5.1% in the 3rd quarter. Soltis Investment Advisors LLC now owns 12,730 shares of the company’s stock valued at $1,025,000 after buying an additional 615 shares in the last quarter. 91.00% of the stock is currently 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.