Carrier Global Co. (NYSE:CARR) Receives $82.31 Average Target Price from Analysts

Carrier Global Co. (NYSE:CARR) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $82.31.

Several equities research analysts have issued reports on the stock. Robert W. Baird decreased their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada decreased their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Mizuho lifted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lowered their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th.

Carrier Global Stock Performance

Carrier Global stock opened at $74.53 on Thursday. The company has a market cap of $66.87 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.34. Carrier Global has a 12 month low of $51.20 and a 12 month high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock’s 50-day moving average is $77.73 and its 200-day moving average is $69.83.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.02%. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CARR. FSM Wealth Advisors LLC raised its holdings in Carrier Global by 2.2% during 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 raised 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 worth $485,000 after acquiring an additional 137 shares in the last quarter. Essex Savings Bank lifted its holdings in Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after acquiring an additional 144 shares during the last quarter. Boston Financial Mangement LLC grew its holdings in shares of Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after acquiring an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC lifted its holdings in shares of Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after purchasing an additional 150 shares during the last quarter. 91.00% of the stock is 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.