Carrier Global (NYSE:CARR) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Carrier Global (NYSE:CARR) from a peer perform rating to an outperform rating in a research report released on Monday morning, Marketbeat.com reports. They currently have $80.00 target price on the stock.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada dropped their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a research note on Friday, February 14th. Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. Finally, Stephens dropped their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.47.

Carrier Global Trading Up 0.5 %

Shares of NYSE:CARR opened at $66.46 on Monday. The business has a 50-day moving average price of $67.36 and a 200-day moving average price of $72.41. The stock has a market cap of $57.71 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 2.01 and a beta of 1.35. Carrier Global has a 52-week low of $53.33 and a 52-week high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the prior year, the company posted $0.53 EPS. Equities analysts predict that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is currently 14.33%.

Institutional Inflows and Outflows

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

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.