Carrier Global (NYSE:CARR) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of Carrier Global (NYSE:CARR) from a peer perform rating to an outperform rating in a report released on Monday morning, MarketBeat reports. They currently have $80.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on the company. Citigroup dropped their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Stephens lowered their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.47.

Carrier Global Price Performance

Carrier Global stock opened at $66.10 on Monday. The firm has a market capitalization of $57.40 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. Carrier Global has a 12-month low of $53.33 and a 12-month high of $83.32. The firm has a 50-day moving average price of $67.28 and a 200-day moving average price of $72.38. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the prior year, the company earned $0.53 earnings per share. As a group, equities research analysts forecast that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. Carrier Global’s payout ratio is 14.33%.

Institutional Trading of Carrier Global

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. RFG Advisory LLC boosted its holdings in Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after acquiring an additional 1,904 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in Carrier Global by 1,156.1% in the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after purchasing an additional 19,018 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after purchasing an additional 11,032 shares during the last quarter. Cerity Partners LLC increased its stake in Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after purchasing an additional 38,365 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in shares of Carrier Global in the fourth quarter worth $2,213,000. 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.