Carrier Global (NYSE:CARR) Coverage Initiated at Northcoast Research

Equities research analysts at Northcoast Research initiated coverage on shares of Carrier Global (NYSE:CARR) in a note issued to investors on Friday, Marketbeat reports. The firm set a “neutral” rating on the stock.

A number of other research analysts have also recently commented on CARR. Wells Fargo & Company cut their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. began coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Mizuho increased their target price 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. Finally, Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $77.00 on Friday. 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 one year low of $51.20 and a one year high of $83.32. The stock has a market cap of $69.09 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.73 and a beta of 1.34. The stock has a 50 day moving average price of $77.88 and a 200-day moving average price of $70.28.

Carrier Global declared that its board has authorized a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Carrier Global

Several hedge funds have recently modified their holdings of the company. Olistico Wealth LLC acquired a new stake in Carrier Global in the 2nd quarter valued at $25,000. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the 3rd quarter worth about $28,000. Meeder Asset Management Inc. raised its position in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC acquired a new position in Carrier Global during the 2nd quarter worth about $32,000. Finally, Hantz Financial Services Inc. purchased a new position in Carrier Global in the 2nd quarter valued at approximately $35,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.