Carrier Global Co. (NYSE:CARR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Carrier Global Co. (NYSE:CARR) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $83.21.

A number of equities analysts recently weighed in on CARR shares. Stephens reduced their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Oppenheimer increased their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Bank of America upped their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Northcoast Research started coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective on the stock.

Carrier Global Stock Up 0.2 %

Shares of CARR stock opened at $68.34 on Friday. Carrier Global has a 12-month low of $53.13 and a 12-month 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. The firm has a fifty day moving average of $72.67 and a 200-day moving average of $71.97. The company has a market capitalization of $61.32 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 2.73 and a beta of 1.36.

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

Carrier Global Increases Dividend

The firm 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 dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, December 20th. Carrier Global’s payout ratio is currently 22.78%.

Hedge Funds Weigh In On Carrier Global

Several large investors have recently modified their holdings of CARR. FSA Wealth Management LLC bought a new position in Carrier Global in the 3rd quarter valued at about $28,000. McClarren Financial Advisors Inc. increased its stake in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co acquired a new stake in Carrier Global during the 3rd quarter worth approximately $37,000. Meeder Asset Management Inc. boosted its stake in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the period. Finally, Country Trust Bank acquired a new position in Carrier Global in the 3rd quarter valued at $40,000. 91.00% of the stock is owned by 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.