Carrier Global Corporation (NYSE:CARR) Stock Has Consensus Price Target of $69.27

Carrier Global Corporation (NYSE:CARR) has been given a consensus rating of “Moderate Buy” by the twenty brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $69.27.

Several brokerages have recently issued reports on CARR. The Goldman Sachs Group cut Carrier Global from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $74.00 to $61.00 in a research note on Wednesday, October 14th. BNP Paribas Exane lowered their target price on Carrier Global from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. Deutsche Bank cut their price target on Carrier Global from $71.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, September 30th. Sanford C. Bernstein reduced their price target on Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 7th. Finally, Wells Fargo & Company reduced their price target on Carrier Global from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th.

Institutional Trading of Carrier Global

Several hedge funds have recently added to or reduced their stakes in CARR. Advisors Asset Management Inc. purchased a new stake in shares of Carrier Global during the 3rd quarter worth $2,814,000. Private Wealth Asset Management LLC grew its stake in shares of Carrier Global by 137.3% during the third quarter. Private Wealth Asset Management LLC now owns 24,360 shares of the company’s stock worth $1,276,000 after purchasing an additional 14,096 shares in the last quarter. Private Advisor Group LLC increased its holdings in Carrier Global by 39.5% in the third quarter. Private Advisor Group LLC now owns 84,051 shares of the company’s stock valued at $4,611,000 after buying an additional 23,813 shares during the last quarter. Ieq Capital LLC increased its holdings in Carrier Global by 138.8% in the third quarter. Ieq Capital LLC now owns 404,025 shares of the company’s stock valued at $22,165,000 after buying an additional 234,807 shares during the last quarter. Finally, Focus Advisor Solutions LLC increased its holdings in Carrier Global by 523.2% in the third quarter. Focus Advisor Solutions LLC now owns 76,634 shares of the company’s stock valued at $4,204,000 after buying an additional 64,337 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Carrier Global stock opened at $54.48 on Monday. The firm has a market cap of $44.57 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. Carrier Global has a 52-week low of $50.24 and a 52-week high of $76.76. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $55.61 and its two-hundred day moving average is $61.62.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. On average, research analysts expect that Carrier Global will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, October 29th. Carrier Global’s dividend payout ratio is presently -43.24%.

About Carrier Global

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage. The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.