Carrier Global Co. (NYSE:CARR) Receives $83.00 Average PT from Analysts

Shares of Carrier Global Co. (NYSE:CARR) have received an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $83.00.

A number of equities analysts have recently issued reports on CARR shares. JPMorgan Chase & Co. upped their price target on Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Barclays upped their price target on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Friday, May 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. Finally, Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Monday, February 24th.

Hedge Funds Weigh In On Carrier Global

Several hedge funds have recently made changes to their positions in CARR. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after purchasing an additional 4,668,929 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Carrier Global by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock valued at $1,181,300,000 after purchasing an additional 420,081 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Carrier Global by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after purchasing an additional 46,222 shares during the last quarter. Nuveen LLC purchased a new stake in Carrier Global in the first quarter valued at $649,512,000. Finally, Brown Advisory Inc. boosted its holdings in Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after purchasing an additional 4,377,402 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR stock opened at $71.48 on Monday. The business’s fifty day simple moving average is $65.96 and its 200-day simple moving average is $67.74. The company has a market cap of $61.28 billion, a PE ratio of 11.38, a PEG ratio of 2.01 and a beta of 1.33. 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 has a 12-month low of $54.22 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. Analysts expect that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Friday, May 2nd were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, May 2nd. Carrier Global’s payout ratio is 13.93%.

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.