Analysts Set Carrier Global Co. (NYSE:CARR) Price Target at $80.67

Carrier Global Co. (NYSE:CARR) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $80.67.

Several analysts recently commented on CARR shares. Royal Bank of Canada upped their price target on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Barclays lifted their price objective on shares of Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Finally, Mizuho lifted their price objective 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.

Insider Transactions at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s 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 owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marathon Capital Management raised its stake in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after purchasing an additional 156 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Carrier Global by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company’s stock valued at $982,000 after buying an additional 159 shares in the last quarter. Savant Capital LLC boosted its holdings in shares of Carrier Global by 0.5% during the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after buying an additional 162 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Carrier Global by 2.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock worth $465,000 after purchasing an additional 163 shares during the last quarter. Finally, Busey Bank raised its position in Carrier Global by 1.5% in the 3rd quarter. Busey Bank now owns 11,138 shares of the company’s stock worth $896,000 after buying an additional 165 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR opened at $72.89 on Friday. The firm’s fifty day simple moving average is $76.24 and its two-hundred day simple moving average is $67.73. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The company has a market cap of $65.67 billion, a price-to-earnings ratio of 50.97, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global has a 52-week low of $45.68 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the previous year, the business posted $0.79 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. Carrier Global’s payout ratio is currently 53.15%.

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