Carrier Global (NYSE:CARR) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Carrier Global (NYSE:CARR) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have $94.00 price target on the stock.

A number of other analysts have also recently weighed in on the company. Morgan Stanley started coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Stephens reduced their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Mizuho increased their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Robert W. Baird decreased their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Stock Down 0.6 %

Carrier Global stock opened at $74.53 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global has a 1-year low of $51.20 and a 1-year high of $83.32. The firm’s fifty day simple moving average is $77.73 and its 200-day simple moving average is $69.83. The company has a market capitalization of $66.87 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.74 and a beta of 1.34.

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

Carrier Global Announces Dividend

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

Hedge Funds Weigh In On Carrier Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new stake in Carrier Global during the third quarter worth $28,000. Meeder Asset Management Inc. increased its holdings in Carrier Global by 675.0% in the 2nd 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. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $32,000. Finally, Hantz Financial Services Inc. bought a new position in shares of Carrier Global during the 2nd quarter worth about $35,000. 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.