Carrier Global (NYSE:CARR) Price Target Raised to $78.00 at Mizuho

Carrier Global (NYSE:CARR) had its price target raised by Mizuho from $65.00 to $78.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Oppenheimer upped their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Bank of America increased their target price on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company increased their price objective on Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Carrier Global Stock Performance

Shares of CARR stock opened at $81.55 on Thursday. Carrier Global has a 52 week low of $45.68 and a 52 week high of $83.32. The firm’s 50-day simple moving average is $75.32 and its two-hundred day simple moving average is $67.30. The firm has a market cap of $73.48 billion, a price-to-earnings ratio of 57.03, a P/E/G ratio of 2.94 and a beta of 1.32. 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 posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

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

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Hedge funds have recently bought and sold shares of the company. Olistico Wealth LLC bought a new stake in shares of Carrier Global in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. raised its position 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 purchasing an additional 405 shares during the period. EdgeRock Capital LLC purchased a new stake in Carrier Global during the second quarter valued at about $32,000. Register Financial Advisors LLC bought a new position in shares of Carrier Global during the first quarter valued at about $34,000. Finally, Rise Advisors LLC increased its holdings in shares of Carrier Global by 3,668.8% in the first quarter. Rise Advisors LLC now owns 603 shares of the company’s stock worth $35,000 after buying an additional 587 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Company Profile

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.