Carrier Global (NYSE:CARR) Price Target Raised to $92.00

Carrier Global (NYSE:CARR) had its target price lifted by Barclays from $89.00 to $92.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently weighed in on CARR. JPMorgan Chase & Co. initiated coverage on Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Stephens reduced their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Finally, Royal Bank of Canada reduced their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.54.

Carrier Global Stock Performance

Shares of CARR stock opened at $73.67 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global has a fifty-two week low of $52.54 and a fifty-two week high of $83.32. The stock has a 50 day moving average price of $77.22 and a two-hundred day moving average price of $71.04. The company has a market capitalization of $66.10 billion, a P/E ratio of 18.65, a PEG ratio of 2.79 and a beta of 1.33.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.22%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is presently 19.24%.

Carrier Global announced that its Board of Directors has authorized a stock buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC grew its stake in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the period. Meridian Wealth Management LLC grew its stake in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the period. Essex Savings Bank boosted its holdings in Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after acquiring an additional 144 shares in the last quarter. Boston Financial Mangement LLC boosted its holdings in Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after acquiring an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC boosted its holdings in Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after acquiring an additional 150 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.