Carrier Global (NYSE:CARR) Stock Rating Upgraded by UBS Group

Carrier Global (NYSE:CARR) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $94.00 target price on the stock. UBS Group’s price target would suggest a potential upside of 26.01% from the company’s current price.

Other analysts have also issued reports about the stock. Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Bank of America boosted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Mizuho boosted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Barclays cut their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Trading Down 0.5 %

NYSE:CARR traded down $0.37 on Wednesday, reaching $74.60. 764,116 shares of the company’s stock were exchanged, compared to its average volume of 4,156,433. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $66.93 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 2.74 and a beta of 1.34. The business has a fifty day moving average of $77.63 and a 200-day moving average of $69.69. Carrier Global has a 52-week low of $51.20 and a 52-week high of $83.32.

Carrier Global declared that its Board of Directors has initiated a share buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Carrier Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC boosted its holdings in Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after purchasing an additional 13,677 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Carrier Global by 50.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after acquiring an additional 130,192 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Carrier Global in the first quarter valued at approximately $2,019,000. Kintegral Advisory LLC boosted its holdings in shares of Carrier Global by 44.2% in the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after acquiring an additional 8,705 shares during the period. Finally, Rockport Wealth LLC acquired a new stake in shares of Carrier Global in the first quarter valued at approximately $478,000. 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.