Carrier Global Co. (NYSE:CARR) Receives $83.50 Consensus Price Target from Brokerages

Carrier Global Co. (NYSE:CARR) has received a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $83.43.

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Barclays boosted their price target on Carrier Global from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada reduced their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday. Stephens lowered their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Finally, Oppenheimer raised their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd.

Carrier Global Price Performance

CARR stock opened at $69.26 on Friday. The company’s 50-day moving average price is $73.14 and its two-hundred day moving average price is $71.95. Carrier Global has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market cap of $62.14 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.73 and a beta of 1.36.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

Carrier Global declared that its board has approved a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Carrier Global

Several institutional investors have recently added to or reduced their stakes in CARR. Frank Rimerman Advisors LLC grew its holdings in Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after acquiring an additional 13,677 shares during the period. Cerity Partners LLC boosted its position in shares of Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after purchasing an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Carrier Global by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after purchasing an additional 11,032 shares during the period. Sheaff Brock Investment Advisors LLC bought a new stake in Carrier Global in the third quarter worth approximately $1,068,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Carrier Global in the third quarter valued at approximately $793,000. 91.00% of the stock is currently owned by institutional investors.

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.