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

Carrier Global Co. (NYSE:CARR) has earned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $62.00.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday. Citigroup increased their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Oppenheimer raised their target price on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada reduced their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, Barclays lifted their price target on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday.

Carrier Global Price Performance

CARR stock opened at $60.50 on Friday. The stock has a 50-day moving average price of $56.54 and a two-hundred day moving average price of $54.83. The stock has a market cap of $54.46 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.39. The company has a current ratio of 1.36, a quick ratio of 2.40 and a debt-to-equity ratio of 1.31. Carrier Global has a 1 year low of $40.28 and a 1 year high of $60.87.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The company had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. Equities analysts forecast that Carrier Global will post 2.84 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Transactions at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently made changes to their positions in CARR. Capital Research Global Investors raised its position in Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after purchasing an additional 2,961,923 shares in the last quarter. Capital International Investors increased its holdings in shares of Carrier Global by 0.6% during the fourth quarter. Capital International Investors now owns 81,063,464 shares of the company’s stock worth $4,657,260,000 after buying an additional 443,568 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Carrier Global by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after buying an additional 310,453 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Carrier Global by 3.4% during the third quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock worth $493,560,000 after buying an additional 289,973 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Carrier Global during the fourth quarter worth $444,487,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.