Carrier Global’s (CARR) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Carrier Global (NYSE:CARR) in a report issued on Friday, Benzinga reports. The brokerage currently has a $72.00 price objective on the stock.

Several other brokerages have also recently commented on CARR. Barclays increased their price target on Carrier Global from $79.00 to $81.00 and gave the company an overweight rating in a research report on Friday, June 14th. Citigroup raised Carrier Global from a neutral rating to a buy rating and raised their price objective for the company from $65.00 to $74.00 in a research report on Monday, June 24th. TD Cowen raised their price objective on Carrier Global from $66.00 to $70.00 and gave the company a buy rating in a research report on Monday, April 29th. Robert W. Baird cut their price objective on Carrier Global from $75.00 to $74.00 and set an outperform rating for the company in a research report on Friday. Finally, Oppenheimer raised their price objective on Carrier Global from $64.00 to $71.00 and gave the company an outperform rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of Hold and an average price target of $66.86.

Carrier Global Trading Up 1.3 %

Shares of CARR opened at $67.62 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $60.93 billion, a PE ratio of 47.29, a price-to-earnings-growth ratio of 2.60 and a beta of 1.32. Carrier Global has a 12-month low of $45.68 and a 12-month high of $70.09. The stock’s fifty day simple moving average is $64.56 and its 200-day simple moving average is $60.01.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the firm posted $0.79 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts predict that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.12%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Activity

In other news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the transaction, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the sale, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently bought and sold shares of CARR. McClarren Financial Advisors Inc. lifted its holdings in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after buying an additional 202 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in Carrier Global during the 4th quarter worth about $25,000. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at about $25,000. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at about $27,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at about $32,000. Institutional investors own 91.00% of the company’s stock.

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.