Carrier Global Co. (NYSE:CARR) Receives $83.50 Average Target Price from Analysts

Carrier Global Co. (NYSE:CARR) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $83.36.

A number of equities research analysts have weighed in on the stock. Northcoast Research assumed coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Barclays boosted their target price on Carrier Global from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird lowered their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Stephens cut their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. began coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company.

Hedge Funds Weigh In On Carrier Global

Large investors have recently bought and sold shares of the business. Ritholtz Wealth Management acquired a new stake in shares of Carrier Global during the 2nd quarter worth about $206,000. Natixis Advisors LLC raised its holdings in Carrier Global by 13.2% during the second quarter. Natixis Advisors LLC now owns 223,104 shares of the company’s stock worth $14,073,000 after purchasing an additional 25,972 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Carrier Global by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 71,998 shares of the company’s stock worth $4,542,000 after buying an additional 610 shares during the last quarter. Founders Financial Securities LLC boosted its holdings in shares of Carrier Global by 5.0% in the 2nd quarter. Founders Financial Securities LLC now owns 5,834 shares of the company’s stock valued at $368,000 after buying an additional 279 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Carrier Global by 55.8% in the 2nd quarter. Larson Financial Group LLC now owns 1,119 shares of the company’s stock valued at $71,000 after buying an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.8 %

Shares of NYSE:CARR opened at $68.17 on Friday. The company has a market capitalization of $61.16 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.73 and a beta of 1.36. Carrier Global has a 12-month low of $53.13 and a 12-month high of $83.32. The business has a 50-day moving average price of $72.87 and a 200 day moving average price of $72.02. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.