Carrier Global (NYSE:CARR) Now Covered by Analysts at Northcoast Research

Northcoast Research assumed coverage on shares of Carrier Global (NYSE:CARR) in a research note published on Friday, MarketBeat.com reports. The brokerage issued a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Morgan Stanley initiated coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Oppenheimer upped their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Barclays decreased their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Stock Performance

NYSE CARR opened at $77.00 on Friday. The stock’s fifty day moving average is $77.88 and its two-hundred day moving average is $70.23. The firm has a market capitalization of $69.09 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.67 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global has a fifty-two week low of $51.20 and a fifty-two week high of $83.32.

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

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were issued a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. Carrier Global’s dividend payout ratio is presently 19.24%.

Institutional Investors Weigh In On Carrier Global

Several large investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after purchasing an additional 469,108 shares during the period. Geode Capital Management LLC increased its holdings in Carrier Global by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after purchasing an additional 289,439 shares during the period. Fisher Asset Management LLC increased its holdings in Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after purchasing an additional 269,538 shares during the period. FMR LLC increased its holdings in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the period. Finally, PineStone Asset Management Inc. increased its holdings in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the period. Hedge funds and other 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.