Royal Bank of Canada Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price objective decreased by Royal Bank of Canada from $86.00 to $76.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other brokerages also recently commented on CARR. Stephens reduced their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Mizuho boosted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Northcoast Research started coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Citigroup reduced their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Barclays dropped their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.64.

Carrier Global Stock Up 2.4 %

NYSE CARR opened at $65.19 on Wednesday. The business has a fifty day moving average price of $68.34 and a 200 day moving average price of $72.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $58.49 billion, a P/E ratio of 16.50, a P/E/G ratio of 2.11 and a beta of 1.35. Carrier Global has a one year low of $53.13 and a one year high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period in the previous year, the business earned $0.53 earnings per share. Research analysts anticipate that Carrier Global will post 2.52 EPS for the current fiscal year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.38%. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Carrier Global

Institutional investors and hedge funds have recently bought and sold shares of the business. BOK Financial Private Wealth Inc. grew its holdings in shares of 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 purchasing an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its position in 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 buying an additional 180 shares during the period. FSA Wealth Management LLC purchased a new position in Carrier Global in the 3rd quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Carrier Global in the fourth quarter worth $31,000. Finally, Meeder Asset Management Inc. increased its position in shares of 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 acquiring an additional 340 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.