Carrier Global Co. (NYSE:CARR) Given Average Rating of “Hold” by Analysts

Carrier Global Co. (NYSE:CARR) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $62.86.

Several brokerages have weighed in on CARR. Oppenheimer upped their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Barclays increased their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday. Robert W. Baird increased their price target on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Citigroup increased their price target on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, TD Cowen increased their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th.

Insiders Place Their Bets

In other news, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 262,954 shares of company stock worth $16,650,050. Company insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

Several large investors have recently made changes to their positions in the stock. Modera Wealth Management LLC grew its position in Carrier Global by 19.4% in the third quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after purchasing an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in shares of Carrier Global by 9.0% in the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after acquiring an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. bought a new position in shares of Carrier Global in the 4th quarter valued at about $2,081,000. AIA Group Ltd grew its position in shares of Carrier Global by 16.5% in the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after acquiring an additional 14,003 shares during the period. Finally, Versor Investments LP bought a new position in shares of Carrier Global in the 4th quarter valued at about $1,132,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $64.35 on Monday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $57.98 billion, a price-to-earnings ratio of 45.00, a P/E/G ratio of 2.60 and a beta of 1.33. Carrier Global has a 1-year low of $45.40 and a 1-year high of $66.50. The firm’s 50-day moving average price is $61.50 and its two-hundred day moving average price is $58.02.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, equities analysts predict that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be issued a $0.19 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.18%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

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.