Brokerages Set Carrier Global Co. (NYSE:CARR) Price Target at $82.64

Carrier Global Co. (NYSE:CARR) has earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $82.47.

A number of brokerages have recently commented on CARR. The Goldman Sachs Group began coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Wells Fargo & Company lowered their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada reduced their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Citigroup lowered their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Monday.

Carrier Global Price Performance

CARR opened at $66.10 on Friday. The company has a fifty day moving average price of $67.28 and a two-hundred day moving average price of $72.38. The firm has a market capitalization of $57.40 billion, a PE ratio of 10.53, a P/E/G ratio of 2.01 and a beta of 1.35. Carrier Global has a 52 week low of $53.33 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, analysts anticipate that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 14.33%.

Hedge Funds Weigh In On Carrier Global

A number of large investors have recently bought and sold shares of the company. FSM Wealth Advisors LLC lifted its position in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares in the last quarter. Meridian Wealth Management LLC grew its position in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after purchasing an additional 137 shares in the last quarter. UMB Bank n.a. increased its stake in Carrier Global by 1.1% in the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after buying an additional 143 shares during the last quarter. Essex Savings Bank lifted its position in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after buying an additional 144 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in shares of Carrier Global by 2.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock worth $403,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds 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.