Analysts Set Carrier Global Co. (NYSE:CARR) Target Price at $83.93

Carrier Global Co. (NYSE:CARR) has been assigned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $83.93.

Several research firms have recently commented on CARR. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Stephens cut 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. Bank of America increased their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company lowered their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th.

Hedge Funds Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FSA Wealth Management LLC purchased a new position in shares of Carrier Global in the third quarter worth $28,000. McClarren Financial Advisors Inc. raised its position in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares during the last quarter. Coastline Trust Co purchased a new position in Carrier Global in the 3rd quarter worth about $37,000. Country Trust Bank purchased a new stake in shares of Carrier Global during the 3rd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Carrier Global in the third quarter worth approximately $44,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

Shares of CARR stock opened at $65.29 on Tuesday. The firm has a market capitalization of $58.58 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.10 and a beta of 1.36. The stock has a fifty day moving average of $70.51 and a 200 day moving average of $72.45. Carrier Global has a 52 week low of $53.13 and a 52 week high of $83.32. 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 announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. 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 dividend payout ratio is currently 22.78%.

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.