Brokerages Set Carrier Global Co. (NYSE:CARR) Target Price at $83.93

Carrier Global Co. (NYSE:CARR) has been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $83.93.

A number of brokerages have recently commented on CARR. Barclays lowered their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Citigroup lowered their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Finally, Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th.

Carrier Global Trading Up 1.7 %

Shares of NYSE:CARR opened at $65.90 on Tuesday. 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 capitalization of $59.12 billion, a PE ratio of 16.68, a P/E/G ratio of 2.26 and a beta of 1.36. Carrier Global has a 1 year low of $53.13 and a 1 year high of $83.32. The firm has a fifty day moving average price of $70.95 and a 200 day moving average price of $72.51.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.37%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Valmark Advisers Inc. lifted its position in shares of Carrier Global by 22.5% during the fourth quarter. Valmark Advisers Inc. now owns 4,774 shares of the company’s stock worth $326,000 after purchasing an additional 876 shares in the last quarter. Allworth Financial LP raised its position in Carrier Global by 1,657.6% in the 4th quarter. Allworth Financial LP now owns 167,653 shares of the company’s stock worth $11,741,000 after purchasing an additional 158,114 shares during the last quarter. Principal Securities Inc. lifted its holdings in Carrier Global by 128.6% during the 4th quarter. Principal Securities Inc. now owns 16,919 shares of the company’s stock worth $1,155,000 after buying an additional 9,518 shares in the last quarter. Quantum Private Wealth LLC boosted its position in Carrier Global by 1.1% in the 4th quarter. Quantum Private Wealth LLC now owns 23,271 shares of the company’s stock valued at $1,588,000 after buying an additional 252 shares during the last quarter. Finally, Little House Capital LLC increased its stake in shares of Carrier Global by 2.3% in the 4th quarter. Little House Capital LLC now owns 11,752 shares of the company’s stock valued at $802,000 after buying an additional 264 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

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.