Carrier Global Co. (NYSE:CARR) Receives Average Recommendation of “Hold” from Analysts

Carrier Global Co. (NYSE:CARR) has been given an average rating of “Hold” by the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $66.77.

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Oppenheimer dropped their price target on Carrier Global from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird cut their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Bank of America upgraded Carrier Global from an “underperform” rating to a “neutral” rating and raised their price target for the company from $55.00 to $72.00 in a research note on Monday, July 29th.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Carrier Global

Several institutional investors have recently added to or reduced their stakes in CARR. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Carrier Global during the fourth quarter worth about $25,000. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter worth about $25,000. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth about $27,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR opened at $64.28 on Tuesday. The business has a fifty day moving average of $64.68 and a 200 day moving average of $60.66. The stock has a market cap of $57.92 billion, a P/E ratio of 44.95, a PEG ratio of 2.63 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global has a 52-week low of $45.68 and a 52-week high of $70.09.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. As a group, sell-side analysts anticipate that Carrier Global will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.18%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

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.