Barclays Lowers Carrier Global (NYSE:CARR) Price Target to $90.00

Carrier Global (NYSE:CARR) had its price objective cut by Barclays from $92.00 to $90.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on CARR. Mizuho boosted their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. 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 report on Tuesday. 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 report on Monday, October 28th. 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 report on Friday, October 18th. Finally, Oppenheimer increased their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Eight 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 stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.21.

Carrier Global Trading Down 2.8 %

CARR stock opened at $66.56 on Wednesday. Carrier Global has a 12-month low of $53.13 and a 12-month high of $83.32. The business’s 50-day moving average is $72.55 and its 200 day moving average is $71.98. 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 stock has a market cap of $59.72 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.73 and a beta of 1.36.

Carrier Global declared that its board has authorized a share buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The business 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 $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s payout ratio is 22.78%.

Institutional Investors Weigh In On Carrier Global

Institutional investors and hedge funds have recently modified their holdings of the company. 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 during the period. Cerity Partners LLC raised its position in Carrier Global by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after purchasing an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after buying an additional 11,032 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Carrier Global during the third quarter worth about $1,068,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Carrier Global during the third quarter worth approximately $793,000. Hedge funds and other 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.