Barclays Cuts Carrier Global (NYSE:CARR) Price Target to $87.00

Carrier Global (NYSE:CARR) had its price objective cut by Barclays from $90.00 to $87.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently commented on CARR. Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Royal Bank of Canada decreased their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup reduced their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Price Performance

Shares of CARR opened at $65.19 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average is $68.34 and its two-hundred day moving average is $72.28. Carrier Global has a twelve month low of $53.13 and a twelve month high of $83.32. The firm has a market capitalization of $58.49 billion, a PE ratio of 16.50, a P/E/G ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same quarter last year, the firm earned $0.53 EPS. Research analysts anticipate that Carrier Global will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global announced that its board has approved a stock buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CARR. BOK Financial Private Wealth Inc. grew its position in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after purchasing an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its stake in Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after buying an additional 180 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Carrier Global in the 3rd quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Carrier Global during the 4th quarter valued at about $31,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Carrier Global by 236.1% during the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after acquiring an additional 340 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.