JPMorgan Chase & Co. Cuts Carrier Global (NYSE:CARR) Price Target to $64.00

Carrier Global (NYSE:CARR) had its price target cut by JPMorgan Chase & Co. from $78.00 to $64.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently weighed in on CARR. Barclays decreased their price target on Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Monday, February 24th. Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a research report on Friday, February 14th. Citigroup decreased their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group started coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.33.

Carrier Global Stock Down 2.9 %

NYSE:CARR opened at $59.04 on Tuesday. Carrier Global has a one year low of $53.33 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The company has a market cap of $51.01 billion, a PE ratio of 9.40, a P/E/G ratio of 2.01 and a beta of 1.33. The firm’s 50 day simple moving average is $64.36 and its 200 day simple moving average is $70.46.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter last year, the firm earned $0.53 EPS. On average, research analysts anticipate that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is currently 14.33%.

Institutional Investors Weigh In On Carrier Global

Hedge funds have recently added to or reduced their stakes in the company. RFG Advisory LLC lifted its holdings in shares of Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after purchasing an additional 1,904 shares in the last quarter. Princeton Global Asset Management LLC lifted its stake in shares of Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after buying an additional 19,018 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Carrier Global during the fourth quarter valued at about $2,213,000. Waldron Private Wealth LLC raised its holdings in shares of Carrier Global by 90.5% in the 4th quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company’s stock worth $1,128,000 after acquiring an additional 7,854 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Carrier Global by 761.6% in the 3rd quarter. Wellington Management Group LLP now owns 45,064 shares of the company’s stock valued at $3,627,000 after acquiring an additional 39,834 shares in the last quarter. Institutional investors and hedge funds 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.