Carrier Global (NYSE:CARR) Price Target Cut to $90.00 by Analysts at Barclays

Carrier Global (NYSE:CARR) had its target price trimmed by Barclays from $92.00 to $90.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CARR has been the subject of a number of other research reports. JPMorgan Chase & Co. started coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Stephens dropped their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. The Goldman Sachs Group started coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Royal Bank of Canada lowered their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, Bank of America boosted their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $83.21.

Carrier Global Price Performance

Shares of NYSE CARR opened at $68.34 on Wednesday. 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 firm has a market capitalization of $61.32 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.73 and a beta of 1.36. The stock’s 50-day simple moving average is $72.76 and its two-hundred day simple moving average is $71.99. Carrier Global has a twelve month low of $53.13 and a twelve month high of $83.32.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date is Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.32%. Carrier Global’s dividend payout ratio is 22.78%.

Carrier Global declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Carrier Global

A number of large investors have recently modified their holdings of CARR. FSA Wealth Management LLC purchased a new stake in Carrier Global in the 3rd quarter worth about $28,000. McClarren Financial Advisors Inc. lifted its position in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co purchased a new position in shares of Carrier Global during the third quarter valued at approximately $37,000. Meeder Asset Management Inc. increased its stake in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares during the period. Finally, Country Trust Bank purchased a new stake in Carrier Global in the third quarter worth $40,000. 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.