Carrier Global Co. (NYSE:CARR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Carrier Global Co. (NYSE:CARR) have earned an average rating of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $82.54.

A number of research analysts have recently issued reports on the company. Oppenheimer lifted their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Mizuho lifted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Northcoast Research started coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Barclays increased their price objective on Carrier Global from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global during the third quarter worth about $28,000. Meeder Asset Management Inc. raised its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new position in shares of Carrier Global in the second quarter valued at approximately $32,000. Hantz Financial Services Inc. acquired a new stake in shares of Carrier Global in the second quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. increased its position in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE CARR opened at $73.67 on Monday. The company has a market cap of $66.10 billion, a PE ratio of 18.65, a P/E/G ratio of 2.79 and a beta of 1.33. The firm’s 50 day moving average price is $77.22 and its 200-day moving average price is $71.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global has a 52-week low of $52.54 and a 52-week high of $83.32.

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

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.22%. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

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.