Carrier Global (NYSE:CARR) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Carrier Global (NYSE:CARR) in a research report sent to investors on Thursday, Marketbeat.com reports. The firm issued a neutral rating and a $83.00 target price on the stock.

A number of other brokerages have also recently commented on CARR. Citigroup upgraded Carrier Global from a neutral rating to a buy rating and boosted their price objective for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Royal Bank of Canada increased their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an outperform rating in a research report on Thursday, September 5th. Wells Fargo & Company upped their target price on shares of Carrier Global from $73.00 to $82.00 and gave the company an equal weight rating in a research note on Monday, October 7th. Oppenheimer upped their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an outperform rating in a research report on Wednesday, October 2nd. Finally, Baird R W upgraded Carrier Global from a hold rating to a strong-buy rating in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $79.50.

Carrier Global Trading Up 1.5 %

CARR stock opened at $81.61 on Thursday. Carrier Global has a 52 week low of $45.68 and a 52 week high of $82.16. The company has a market cap of $73.53 billion, a price-to-earnings ratio of 57.07, a PEG ratio of 2.94 and a beta of 1.32. 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 business has a fifty day simple moving average of $73.54 and a 200-day simple moving average of $66.44.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The company’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Carrier Global will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CARR. Marathon Capital Management raised its holdings in shares of Carrier Global by 4.1% during the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after buying an additional 156 shares during the last quarter. Savant Capital LLC grew its stake in shares of Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after purchasing an additional 162 shares in the last quarter. Founders Capital Management LLC increased its holdings in shares of Carrier Global by 3.4% during the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after purchasing an additional 175 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of Carrier Global by 1.5% during the third quarter. Valeo Financial Advisors LLC now owns 12,244 shares of the company’s stock valued at $986,000 after purchasing an additional 179 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Carrier Global by 4.3% in the first quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after purchasing an additional 180 shares during the period. 91.00% of the stock is currently owned by institutional investors.

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.