Carrier Global Co. (NYSE:CARR) Receives $82.54 Average Target Price from Brokerages

Carrier Global Co. (NYSE:CARR) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $82.54.

Several analysts have commented on CARR shares. 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 note on Friday, October 18th. Stephens decreased their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. UBS Group upgraded 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 note on Wednesday, November 13th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently added to or reduced their stakes in the stock. Garden State Investment Advisory Services LLC lifted its position in shares of Carrier Global by 2.8% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 5,950 shares of the company’s stock worth $480,000 after purchasing an additional 161 shares during the period. Franklin Resources Inc. boosted its stake in Carrier Global by 1.2% in the third quarter. Franklin Resources Inc. now owns 224,323 shares of the company’s stock valued at $18,545,000 after acquiring an additional 2,596 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Carrier Global by 1.4% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 176,984 shares of the company’s stock worth $14,246,000 after purchasing an additional 2,397 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in Carrier Global by 280.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 34,717 shares of the company’s stock worth $2,794,000 after buying an additional 25,594 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its stake in Carrier Global by 0.3% in the third quarter. Sanctuary Advisors LLC now owns 70,379 shares of the company’s stock valued at $5,419,000 after buying an additional 237 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Up 1.2 %

Shares of CARR stock opened at $73.71 on Monday. The stock has a market cap of $66.13 billion, a P/E ratio of 18.44, a PEG ratio of 2.73 and a beta of 1.33. Carrier Global has a 52 week low of $53.13 and a 52 week 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 company’s fifty day simple moving average is $76.94 and its two-hundred day simple moving average is $71.19.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.22%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio is presently 19.24%.

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

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.