Northcoast Research Begins Coverage on Carrier Global (NYSE:CARR)

Northcoast Research began coverage on shares of Carrier Global (NYSE:CARR) in a research report released on Friday morning, Marketbeat Ratings reports. The firm issued a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Oppenheimer increased their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Stephens dropped their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Robert W. Baird dropped their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Trading Up 1.3 %

CARR opened at $77.00 on Friday. Carrier Global has a one year low of $51.20 and a one year high of $83.32. The company has a market cap of $69.09 billion, a P/E ratio of 19.49, a PEG ratio of 2.67 and a beta of 1.34. 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 business’s 50-day simple moving average is $77.88 and its 200-day simple moving average is $70.23.

Carrier Global announced that its board has authorized a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. Carrier Global’s payout ratio is 19.24%.

Institutional Trading of Carrier Global

A number of hedge funds have recently added to or reduced their stakes in the stock. FSM Wealth Advisors LLC lifted its position in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after acquiring an additional 136 shares during the period. Meridian Wealth Management LLC lifted its position in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after acquiring an additional 137 shares during the period. Essex Savings Bank lifted its position in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after acquiring an additional 144 shares during the period. Boston Financial Mangement LLC raised its stake in shares of Carrier Global by 1.7% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after buying an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC raised its stake in shares of Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after buying an additional 150 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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.