Brokerages Set Carrier Global Co. (NYSE:CARR) Target Price at $82.31

Carrier Global Co. (NYSE:CARR) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $82.31.

CARR has been the topic of a number of research analyst reports. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Wednesday. Royal Bank of Canada cut their price objective on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 target price on the stock. Wells Fargo & Company cut their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Finally, Oppenheimer increased 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.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FSA Wealth Management LLC bought a new position in shares of Carrier Global during the 3rd quarter worth about $28,000. Olistico Wealth LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $25,000. McClarren Financial Advisors Inc. lifted its position in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares during the period. Coastline Trust Co bought a new stake in Carrier Global in the third quarter valued at $37,000. Finally, Meeder Asset Management Inc. grew its position in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Down 0.6 %

Shares of NYSE CARR opened at $74.53 on Thursday. The firm has a market capitalization of $66.87 billion, a PE ratio of 18.87, a PEG ratio of 2.74 and a beta of 1.34. Carrier Global has a one year low of $51.20 and a one year high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $77.73 and a two-hundred day moving average price of $69.83.

Carrier Global announced that its board has initiated a stock repurchase program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is currently 19.24%.

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.