Carrier Global Co. (NYSE:CARR) Given Average Recommendation of “Moderate Buy” by Analysts

Carrier Global Co. (NYSE:CARR) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Seven 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. The average twelve-month price objective among analysts that have covered the stock in the last year is $81.75.

A number of equities research analysts have issued reports on the stock. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday. Stephens cut shares of Carrier Global from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $75.00 to $85.00 in a research note on Wednesday, October 16th. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th.

Carrier Global Trading Up 1.4 %

Shares of CARR stock opened at $73.72 on Friday. Carrier Global has a 52-week low of $45.68 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company has a 50-day simple moving average of $76.46 and a two-hundred day simple moving average of $67.94. The company has a market capitalization of $66.42 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.61 billion. Research analysts anticipate that Carrier Global will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is currently 53.15%.

Carrier Global announced that its board has authorized a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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

Institutional Trading of Carrier Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hudson Valley Investment Advisors Inc. ADV bought a new stake in Carrier Global during the 3rd quarter worth approximately $201,000. Pinnacle Associates Ltd. increased its holdings in shares of Carrier Global by 3.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 40,653 shares of the company’s stock worth $3,272,000 after buying an additional 1,534 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Carrier Global by 7.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 27,376 shares of the company’s stock worth $2,204,000 after buying an additional 1,893 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Carrier Global by 18.8% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 8,339 shares of the company’s stock worth $671,000 after buying an additional 1,320 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new position in shares of Carrier Global in the 3rd quarter worth $14,046,000. Institutional investors own 91.00% of the company’s stock.

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.