Brokerages Set Carrier Global Co. (NYSE:CARR) PT at $82.54

Carrier Global Co. (NYSE:CARR) has been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $83.50.

A number of brokerages recently commented on CARR. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Northcoast Research started coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. The Goldman Sachs Group began coverage on Carrier Global in a research report on Thursday. They issued a “buy” rating and a $96.00 target price on the stock. Stephens lowered their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Robert W. Baird reduced their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th.

Carrier Global Stock Down 0.7 %

Shares of NYSE CARR opened at $73.02 on Monday. The stock has a market cap of $65.52 billion, a PE ratio of 18.49, a P/E/G ratio of 2.73 and a beta of 1.33. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global has a 12-month low of $53.13 and a 12-month high of $83.32. The company has a 50-day moving average of $76.52 and a 200 day moving average of $71.28.

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

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.23%. Carrier Global’s dividend payout ratio is 22.78%.

Institutional Trading of Carrier Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FSM Wealth Advisors LLC raised its position in shares of Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after acquiring an additional 136 shares in the last quarter. Meridian Wealth Management LLC raised its stake in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after acquiring an additional 137 shares in the last quarter. Essex Savings Bank lifted its holdings in shares of Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares during the last quarter. Boston Financial Mangement LLC boosted its position in shares of Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after purchasing an additional 150 shares during the period. Finally, Sittner & Nelson LLC grew its stake in Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after buying an additional 150 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.