Carrier Global Co. (NYSE:CARR) Receives $83.93 Average PT from Analysts

Carrier Global Co. (NYSE:CARR) has been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $83.93.

CARR has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price 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. The Goldman Sachs Group started coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Northcoast Research started coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lowered their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Citigroup lowered their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th.

Institutional Trading of Carrier Global

A number of institutional investors have recently modified their holdings of CARR. Sigma Planning Corp lifted its position in Carrier Global by 1.5% during the fourth quarter. Sigma Planning Corp now owns 12,923 shares of the company’s stock valued at $882,000 after buying an additional 194 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its stake in shares of Carrier Global by 4.5% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,341 shares of the company’s stock valued at $296,000 after acquiring an additional 188 shares during the period. Compass Capital Corp MA ADV acquired a new position in shares of Carrier Global during the 4th quarter valued at $716,000. Centricity Wealth Management LLC purchased a new stake in Carrier Global during the 4th quarter worth $49,000. Finally, ING Groep NV increased its holdings in Carrier Global by 620.9% in the 4th quarter. ING Groep NV now owns 106,573 shares of the company’s stock valued at $7,275,000 after purchasing an additional 91,790 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 3.6 %

NYSE:CARR opened at $63.00 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global has a 52-week low of $53.13 and a 52-week high of $83.32. The stock’s 50 day moving average price is $70.51 and its 200 day moving average price is $72.50. The company has a market capitalization of $56.52 billion, a PE ratio of 15.95, a P/E/G ratio of 2.12 and a beta of 1.36.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

Carrier Global declared that its board has approved a share repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors 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.