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

Shares of Carrier Global Co. (NYSE:CARR) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $82.31.

CARR has been the topic of a number of recent analyst reports. Barclays cut their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company reduced their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Bank of America boosted their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Finally, Oppenheimer increased their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd.

Carrier Global Price Performance

CARR stock opened at $74.50 on Thursday. The company has a market capitalization of $66.84 billion, a PE ratio of 18.86, a P/E/G ratio of 2.68 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average is $77.86 and its two-hundred day moving average is $70.10. Carrier Global has a 52-week low of $51.20 and a 52-week high of $83.32.

Carrier Global declared that its board has authorized a stock repurchase 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 typically an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Dividend Announcement

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

Institutional Trading of Carrier Global

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Carrier Global by 0.5% during the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after purchasing an additional 466,829 shares during the period. Capital International Investors boosted its stake in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares during the period. State Street Corp grew its holdings in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after acquiring an additional 469,108 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Carrier Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after acquiring an additional 289,439 shares in the last quarter. 91.00% of the stock is 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.