Carrier Global Co. (NYSE:CARR) Given Average Recommendation of “Moderate Buy” by Brokerages

Carrier Global Co. (NYSE:CARR) has been given an average recommendation of “Moderate Buy” by the seventeen analysts that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $83.21.

CARR has been the subject of several analyst reports. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays dropped their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company dropped their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock.

Carrier Global Stock Up 0.2 %

NYSE CARR opened at $68.34 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market cap of $61.32 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.73 and a beta of 1.36. The company has a 50 day moving average of $72.67 and a 200-day moving average of $71.97. Carrier Global has a 1-year low of $53.13 and a 1-year high of $83.32.

Carrier Global declared that its Board of Directors has initiated a stock buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.32%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Institutional Trading of Carrier Global

Several institutional investors have recently added to or reduced their stakes in CARR. FSA Wealth Management LLC acquired a new position in shares of Carrier Global in the 3rd quarter worth approximately $28,000. Meeder Asset Management Inc. lifted its holdings in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares during the period. McClarren Financial Advisors Inc. boosted its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co acquired a new stake in Carrier Global during the 3rd quarter worth about $37,000. Finally, Country Trust Bank bought a new position in shares of Carrier Global in the 3rd quarter worth about $40,000. 91.00% of the stock is currently owned by institutional investors.

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.