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

Carrier Global Co. (NYSE:CARR) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $80.67.

CARR has been the topic of several recent research reports. Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Company lifted their price target on shares of Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Robert W. Baird lowered their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective on the stock. Finally, Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th.

Carrier Global Price Performance

Shares of CARR opened at $81.55 on Friday. The firm has a market cap of $73.48 billion, a PE ratio of 57.03, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global has a 52-week low of $45.68 and a 52-week high of $83.32. The business’s 50 day moving average price is $75.32 and its two-hundred day moving average price is $67.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. Carrier Global’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Carrier Global will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.93%. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently bought and sold shares of CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global in the second quarter worth $25,000. Meeder Asset Management Inc. increased its stake in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global in the 2nd quarter valued at about $32,000. Register Financial Advisors LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at about $34,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Carrier Global during the second quarter worth about $35,000. Institutional investors 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.