Carrier Global (NYSE:CARR) Raised to Neutral at Bank of America

Bank of America upgraded shares of Carrier Global (NYSE:CARR) from an underperform rating to a neutral rating in a research note published on Monday morning, MarketBeat Ratings reports. They currently have $72.00 target price on the stock, up from their prior target price of $55.00.

Several other equities analysts have also recently commented on CARR. Robert W. Baird lowered their price target on shares of Carrier Global from $75.00 to $74.00 and set an outperform rating on the stock in a report on Friday, July 26th. Wells Fargo & Company boosted their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an equal weight rating in a report on Friday, April 26th. Citigroup upgraded shares of Carrier Global from a neutral rating to a buy rating and boosted their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Barclays lifted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the company an overweight rating in a research note on Friday, June 14th. Finally, Baird R W raised shares of Carrier Global from a hold rating to a strong-buy rating in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $66.77.

Carrier Global Trading Down 3.0 %

NYSE CARR opened at $66.06 on Monday. The firm’s 50 day moving average price is $64.67 and its two-hundred day moving average price is $60.19. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global has a twelve month low of $45.68 and a twelve month high of $70.09. The stock has a market cap of $59.64 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 2.69 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the company posted $0.79 EPS. Carrier Global’s revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that Carrier Global will post 2.84 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio is 53.15%.

Insiders Place Their Bets

In other news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares in the company, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARR. McClarren Financial Advisors Inc. increased its stake in Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in Carrier Global during the fourth quarter worth about $25,000. Olistico Wealth LLC bought a new stake in Carrier Global during the second quarter worth about $25,000. EdgeRock Capital LLC bought a new stake in Carrier Global during the fourth quarter worth about $27,000. Finally, Criterion Capital Advisors LLC bought a new stake in Carrier Global during the fourth quarter worth about $32,000. Institutional investors own 91.00% of the company’s stock.

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.