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

Carrier Global (NYSE:CARR) had its target price boosted by Bank of America from $80.00 to $90.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently commented on CARR. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Mizuho upped their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley initiated coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Oppenheimer boosted their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Carrier Global Stock Up 0.1 %

Carrier Global stock opened at $81.55 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The company’s 50-day moving average is $75.32 and its 200-day moving average is $67.30. The firm has a market capitalization of $73.48 billion, a PE ratio of 57.03, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the business earned $0.79 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts anticipate that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

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

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carrier Global

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after buying an additional 466,829 shares in the last quarter. Capital International Investors lifted its holdings in shares of Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares in the last quarter. PineStone Asset Management Inc. boosted its stake in shares of Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Carrier Global by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after purchasing an additional 72,633 shares during the last quarter. Institutional investors and hedge funds 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.