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

Shares of Carrier Global Co. (NYSE:CARR) have been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $83.93.

A number of research firms have recently issued reports on CARR. Wells Fargo & Company cut their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada cut their price target on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Oppenheimer boosted their price target 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. Finally, Bank of America boosted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds have recently made changes to their positions in CARR. Public Sector Pension Investment Board increased its position in shares of Carrier Global by 59.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 35,885 shares of the company’s stock worth $2,264,000 after purchasing an additional 13,385 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in Carrier Global during the 2nd quarter worth about $372,000. Creative Planning grew its holdings in Carrier Global by 4.3% during the 2nd quarter. Creative Planning now owns 453,571 shares of the company’s stock worth $28,611,000 after acquiring an additional 18,895 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Carrier Global by 3.1% during the 2nd quarter. NewEdge Advisors LLC now owns 35,001 shares of the company’s stock worth $2,208,000 after acquiring an additional 1,058 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Carrier Global by 2.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the company’s stock worth $2,542,000 after acquiring an additional 884 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Down 3.9 %

Shares of NYSE:CARR opened at $67.36 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average of $71.42 and a 200-day moving average of $72.55. Carrier Global has a twelve month low of $53.13 and a twelve month high of $83.32. The firm has a market cap of $60.44 billion, a P/E ratio of 17.05, a P/E/G ratio of 2.26 and a beta of 1.36.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

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

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.