Carrier Global’s (CARR) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Carrier Global (NYSE:CARR) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has a $79.00 price target on the stock.

Several other equities analysts have also recently weighed in on CARR. Royal Bank Of Canada raised their price objective on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Friday, May 9th. Robert W. Baird lifted their price target on Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Barclays lifted their price target on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, Citigroup reaffirmed a “buy” rating and issued a $89.00 target price (up previously from $82.00) on shares of Carrier Global in a research report on Monday. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.65.

Carrier Global Stock Up 2.0%

NYSE CARR opened at $76.92 on Tuesday. The firm has a market cap of $65.95 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31. Carrier Global has a one year low of $54.22 and a one year high of $83.32. The stock’s 50 day simple moving average is $73.00 and its 200 day simple moving average is $67.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. As a group, sell-side analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be given a dividend of $0.225 per share. The ex-dividend date is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.17%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director owned 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently made changes to their positions in CARR. Nuveen LLC acquired a new stake in shares of Carrier Global in the 1st quarter worth about $649,512,000. Norges Bank purchased a new stake in Carrier Global in the 4th quarter valued at about $588,029,000. JPMorgan Chase & Co. increased its stake in Carrier Global by 17.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after buying an additional 4,668,929 shares during the last quarter. Brown Advisory Inc. increased its stake in Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after buying an additional 4,377,402 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in Carrier Global in the 4th quarter valued at about $166,061,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.