Carrier Global Co. (NYSE:CARR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Carrier Global Co. (NYSE:CARRGet Free Report) have received a consensus recommendation of “Hold” from the fourteen analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $58.29.

A number of equities research analysts have recently issued reports on CARR shares. Wells Fargo & Company cut their price objective on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada decreased their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Oppenheimer decreased their price objective on shares of Carrier Global from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Monday, October 23rd. Finally, Citigroup lifted their target price on shares of Carrier Global from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, December 11th.

Check Out Our Latest Analysis on CARR

Carrier Global Stock Performance

NYSE CARR opened at $56.04 on Tuesday. The company’s 50 day moving average is $56.02 and its 200-day moving average is $54.55. Carrier Global has a 12-month low of $40.28 and a 12-month high of $60.04. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The firm has a market cap of $50.34 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 1.90 and a beta of 1.42.

Carrier Global (NYSE:CARRGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts predict that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Thursday, December 21st were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a yield of 1.36%. Carrier Global’s dividend payout ratio is currently 48.10%.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 16,500 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $57.99, for a total transaction of $956,835.00. Following the transaction, the vice president now directly owns 89,920 shares in the company, valued at approximately $5,214,460.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ajay Agrawal sold 16,500 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $57.99, for a total value of $956,835.00. Following the sale, the vice president now directly owns 89,920 shares in the company, valued at approximately $5,214,460.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 397,590 shares of company stock worth $21,586,315. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Capital International Investors boosted its position in Carrier Global by 38.0% during the 2nd quarter. Capital International Investors now owns 78,136,207 shares of the company’s stock worth $3,884,094,000 after purchasing an additional 21,529,209 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Carrier Global by 712.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock worth $799,843,000 after buying an additional 15,330,140 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Carrier Global by 83,676.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock valued at $346,925,000 after purchasing an additional 8,400,264 shares in the last quarter. Capital World Investors raised its stake in shares of Carrier Global by 11.0% in the 2nd quarter. Capital World Investors now owns 80,757,252 shares of the company’s stock valued at $4,014,427,000 after purchasing an additional 7,996,941 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Carrier Global in the 4th quarter valued at about $444,487,000. 91.47% of the stock is owned by hedge funds and other institutional investors.

About Carrier Global

(Get Free Report

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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