Mizuho Boosts Carrier Global (NYSE:CARR) Price Target to $78.00

Carrier Global (NYSE:CARR) had its price target hoisted by Mizuho from $65.00 to $78.00 in a report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

CARR has been the topic of a number of other reports. Royal Bank of Canada boosted their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. 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. Wells Fargo & Company lifted their price objective on Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Stephens lowered Carrier Global from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $75.00 to $85.00 in a research report on Wednesday, October 16th. Finally, Morgan Stanley started coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Carrier Global Price Performance

CARR stock opened at $81.55 on Thursday. The stock has a market capitalization of $73.48 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 2.94 and a beta of 1.32. The firm’s 50-day moving average price is $75.32 and its two-hundred day moving average price is $67.30. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global has a 12-month low of $45.68 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 EPS. As a group, equities analysts predict that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Olistico Wealth LLC purchased a new position in shares of Carrier Global during the second quarter valued at approximately $25,000. McClarren Financial Advisors Inc. raised its stake in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Carrier Global by 675.0% during the 2nd 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. Country Trust Bank purchased a new position in shares of Carrier Global in the 3rd quarter worth $40,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Carrier Global in the second quarter worth $32,000. Institutional investors own 91.00% of the company’s stock.

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.