Carrier Global (NYSE:CARR) Shares Gap Up – Should You Buy?

Carrier Global Co. (NYSE:CARR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $62.07, but opened at $65.21. Carrier Global shares last traded at $64.32, with a volume of 738,516 shares.

Analysts Set New Price Targets

CARR has been the topic of a number of recent research reports. Northcoast Research initiated coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. The Goldman Sachs Group began coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. UBS Group upgraded 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 note on Wednesday, November 13th. Royal Bank of Canada dropped their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Finally, Citigroup cut their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.53.

Carrier Global Price Performance

The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $55.29 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The business has a 50-day moving average of $66.89 and a two-hundred day moving average of $72.35.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the prior year, the company earned $0.53 earnings per share. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 14.33%.

Institutional Trading of Carrier Global

A number of institutional investors and hedge funds have recently bought and sold shares of CARR. FSM Wealth Advisors LLC increased its stake in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares during the period. Meridian Wealth Management LLC boosted its position in Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after acquiring an additional 137 shares during the last quarter. UMB Bank n.a. grew its holdings in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after acquiring an additional 143 shares during the period. Essex Savings Bank raised its position 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 worth $532,000 after acquiring an additional 144 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in shares of Carrier Global by 2.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock valued at $403,000 after purchasing an additional 147 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.