Carrier Global Co. (NYSE:CARR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Carrier Global Co. (NYSE:CARR) have received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $80.13.

Several research analysts have weighed in on CARR shares. Wells Fargo & Company cut their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Friday, February 14th. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Monday, February 24th. Finally, Citigroup lowered their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a report on Monday.

Hedge Funds Weigh In On Carrier Global

Several hedge funds have recently bought and sold shares of the company. Grove Bank & Trust grew its position in shares of Carrier Global by 17.7% during the 1st quarter. Grove Bank & Trust now owns 4,580 shares of the company’s stock valued at $290,000 after purchasing an additional 690 shares in the last quarter. Grimes & Company Inc. grew its position in Carrier Global by 5.8% during the first quarter. Grimes & Company Inc. now owns 11,713 shares of the company’s stock worth $743,000 after buying an additional 641 shares in the last quarter. QRG Capital Management Inc. increased its stake in Carrier Global by 24.4% in the 1st quarter. QRG Capital Management Inc. now owns 91,108 shares of the company’s stock worth $5,776,000 after acquiring an additional 17,842 shares during the last quarter. Sagespring Wealth Partners LLC raised its holdings in shares of Carrier Global by 14.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 10,707 shares of the company’s stock valued at $679,000 after acquiring an additional 1,373 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at about $234,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 1.2 %

CARR opened at $59.87 on Friday. Carrier Global has a fifty-two week low of $53.33 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The company’s 50-day moving average is $63.87 and its 200 day moving average is $69.82. The firm has a market capitalization of $51.73 billion, a P/E ratio of 9.53, a PEG ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter in the previous year, the company posted $0.53 EPS. Research analysts expect that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global’s payout ratio is 14.33%.

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.