Brokerages Set Carrier Global Co. (NYSE:CARR) Price Target at $45.50

Carrier Global Co. (NYSE:CARRGet Rating) has received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $45.50.

A number of research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Carrier Global from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, August 1st. Citigroup lowered their target price on Carrier Global from $40.00 to $39.00 in a report on Monday, October 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Carrier Global from $45.00 to $43.00 and set a “hold” rating on the stock in a research report on Thursday, October 13th. Cowen decreased their price objective on Carrier Global from $58.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday, October 31st. Finally, KeyCorp lifted their target price on Carrier Global from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, September 6th.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $44.16 on Friday. The firm’s 50 day simple moving average is $38.59 and its 200-day simple moving average is $38.82. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.18 and a current ratio of 1.62. Carrier Global has a one year low of $33.10 and a one year high of $57.69. The firm has a market cap of $36.93 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.34 and a beta of 1.32.

Carrier Global (NYSE:CARRGet Rating) last issued its earnings results on Thursday, October 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Carrier Global had a return on equity of 28.45% and a net margin of 17.55%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.44 billion. As a group, equities analysts predict that Carrier Global will post 2.34 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Friday, October 28th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Thursday, October 27th. Carrier Global’s payout ratio is 14.49%.

Institutional Trading of Carrier Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARR. Vanguard Group Inc. lifted its holdings in shares of Carrier Global by 0.6% during the first quarter. Vanguard Group Inc. now owns 91,919,595 shares of the company’s stock worth $4,216,351,000 after purchasing an additional 583,314 shares during the period. Capital World Investors lifted its stake in Carrier Global by 25.2% during the 1st quarter. Capital World Investors now owns 82,087,040 shares of the company’s stock valued at $3,765,453,000 after acquiring an additional 16,505,073 shares during the period. Capital Research Global Investors increased its stake in shares of Carrier Global by 13.6% in the first quarter. Capital Research Global Investors now owns 78,916,642 shares of the company’s stock worth $3,619,921,000 after acquiring an additional 9,466,546 shares during the period. Capital International Investors increased its stake in shares of Carrier Global by 1.4% in the first quarter. Capital International Investors now owns 54,335,108 shares of the company’s stock worth $2,492,759,000 after acquiring an additional 738,453 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of Carrier Global by 3.4% during the third quarter. Nuveen Asset Management LLC now owns 17,108,963 shares of the company’s stock worth $608,395,000 after purchasing an additional 558,801 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

About Carrier Global

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Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.

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Analyst Recommendations for Carrier Global (NYSE:CARR)

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