Carrier Global (NYSE:CARR) Price Target Cut to $86.00 by Analysts at Robert W. Baird

Carrier Global (NYSE:CARR) had its price objective cut by Robert W. Baird from $88.00 to $86.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Oppenheimer boosted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada boosted their target price on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Bank of America boosted their target price 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. Finally, JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global Stock Performance

NYSE:CARR opened at $75.67 on Friday. The company has a fifty day simple moving average of $76.60 and a two-hundred day simple moving average of $68.15. The company has a market cap of $68.18 billion, a price-to-earnings ratio of 52.92, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global has a 52 week low of $46.77 and a 52 week high of $83.32.

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

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a $0.19 dividend. 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 1.00%. Carrier Global’s payout ratio is 53.15%.

Insider Activity

In other 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 value of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently made changes to their positions in CARR. Kingswood Wealth Advisors LLC raised its holdings in Carrier Global by 8.9% during the first quarter. Kingswood Wealth Advisors LLC now owns 5,214 shares of the company’s stock worth $303,000 after purchasing an additional 426 shares in the last quarter. Brookstone Capital Management raised its holdings in Carrier Global by 14.4% during the first quarter. Brookstone Capital Management now owns 5,683 shares of the company’s stock worth $330,000 after purchasing an additional 715 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Carrier Global by 18.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,847 shares of the company’s stock worth $398,000 after purchasing an additional 1,088 shares in the last quarter. Capital Asset Advisory Services LLC raised its holdings in Carrier Global by 35.7% during the first quarter. Capital Asset Advisory Services LLC now owns 4,973 shares of the company’s stock worth $281,000 after purchasing an additional 1,309 shares in the last quarter. Finally, Register Financial Advisors LLC purchased a new position in Carrier Global during the first quarter worth about $34,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.