Carrier Global (NYSE:CARR) Raised to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Carrier Global (NYSE:CARR) from a neutral rating to an overweight rating in a research report report published on Wednesday morning, MarketBeat Ratings reports. They currently have $78.00 target price on the stock, up from their previous target price of $77.00.

A number of other research analysts also recently issued reports on CARR. Barclays decreased their price target on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, February 24th. Northcoast Research initiated coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Citigroup reduced their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company reduced their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.53.

Carrier Global Trading Up 4.5 %

Carrier Global stock opened at $64.86 on Wednesday. Carrier Global has a 52 week low of $53.33 and a 52 week high of $83.32. The company has a market capitalization of $56.03 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The stock has a 50-day moving average price of $66.80 and a 200 day moving average price of $72.30. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the prior year, the firm earned $0.53 earnings per share. Sell-side analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.39%. Carrier Global’s dividend payout ratio is currently 14.33%.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently modified their holdings of the business. BOK Financial Private Wealth Inc. grew its holdings in shares of Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after purchasing an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its stake in Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. FSA Wealth Management LLC acquired a new position in Carrier Global during the 3rd quarter worth about $28,000. Park Square Financial Group LLC acquired a new position in Carrier Global during the 4th quarter worth about $28,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in Carrier Global during the 4th quarter worth about $31,000. 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.