Carrier Global (NYSE:CARR) Upgraded by Northcoast Research to Buy Rating

Northcoast Research upgraded shares of Carrier Global (NYSE:CARR) from a neutral rating to a buy rating in a research report sent to investors on Friday morning, MarketBeat reports. Northcoast Research currently has $85.00 price objective on the stock.

A number of other research analysts also recently issued reports on the company. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. decreased their price objective on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Citigroup dropped their target price on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Barclays increased their price target on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Mizuho set a $72.00 price objective on Carrier Global in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.53.

Carrier Global Stock Up 1.3 %

Shares of NYSE:CARR opened at $71.44 on Friday. Carrier Global has a 12-month low of $54.22 and a 12-month high of $83.32. The stock has a market capitalization of $61.25 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.01 and a beta of 1.33. The stock has a fifty day simple moving average of $63.72 and a two-hundred day simple moving average of $68.02. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. Carrier Global’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. On average, research analysts anticipate that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, May 2nd. Carrier Global’s payout ratio is presently 13.93%.

Institutional Trading of Carrier Global

Several hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Carrier Global during the fourth quarter valued at approximately $588,029,000. Wealthfront Advisers LLC increased its holdings in Carrier Global by 5,840.1% during the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after buying an additional 4,915,826 shares during the period. Brown Advisory Inc. increased its holdings in shares of Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after acquiring an additional 4,377,402 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of Carrier Global during the fourth quarter valued at about $166,061,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Carrier Global during the fourth quarter worth $108,433,000. 91.00% of the stock is currently owned by hedge funds and other 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.