Carrier Global Co. (NYSE:CARR) Receives $83.50 Consensus Price Target from Analysts

Carrier Global Co. (NYSE:CARR) has earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $83.43.

CARR has been the topic of a number of research reports. Royal Bank of Canada cut their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday. The Goldman Sachs Group started coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Oppenheimer lifted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Bank of America increased their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock.

Carrier Global Trading Up 1.4 %

Shares of NYSE:CARR opened at $69.26 on Friday. The firm has a market cap of $62.14 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.73 and a beta of 1.36. Carrier Global has a 12 month low of $53.13 and a 12 month high of $83.32. The company’s fifty day simple moving average is $73.14 and its 200 day simple moving average is $71.95. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a $0.225 dividend. The ex-dividend date is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.30%. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a share buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CARR. FMR LLC raised its stake in Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Carrier Global in the third quarter valued at approximately $130,479,000. Point72 Asset Management L.P. bought a new stake in shares of Carrier Global in the second quarter valued at approximately $58,415,000. Mizuho Securities USA LLC grew its position in Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after buying an additional 922,892 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after acquiring an additional 897,061 shares during the period. 91.00% of the stock is owned by 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.