Carrier Global Corporation (NYSE:CARR) Given Consensus Rating of “Moderate Buy” by Analysts

Carrier Global Corporation (NYSE:CARR) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $84.65.

Several brokerages recently commented on CARR. Barclays increased their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Wells Fargo & Company boosted their target price on Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Robert W. Baird cut their target price on Carrier Global from $88.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Mizuho set a $72.00 target price on Carrier Global in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a research note on Wednesday, May 21st.

Carrier Global Trading Down 0.8%

Shares of NYSE:CARR opened at $75.99 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Carrier Global has a 1 year low of $54.22 and a 1 year high of $83.32. The stock has a market capitalization of $65.14 billion, a PE ratio of 11.76, a P/E/G ratio of 2.09 and a beta of 1.31. The firm has a fifty day moving average price of $73.11 and a 200 day moving average price of $67.87.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The firm 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 company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. Analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be issued a $0.225 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.18%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 54,341,534 shares in the company, 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 hyperlink. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. raised its stake in shares of Carrier Global by 14.2% in the second quarter. QRG Capital Management Inc. now owns 104,037 shares of the company’s stock valued at $7,614,000 after acquiring an additional 12,929 shares during the period. Ameritas Advisory Services LLC increased its holdings in Carrier Global by 16.2% in the second quarter. Ameritas Advisory Services LLC now owns 17,637 shares of the company’s stock valued at $1,291,000 after purchasing an additional 2,453 shares during the last quarter. DHJJ Financial Advisors Ltd. boosted its holdings in shares of Carrier Global by 2,259.3% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,392 shares of the company’s stock valued at $102,000 after acquiring an additional 1,333 shares in the last quarter. Hilltop National Bank purchased a new stake in shares of Carrier Global in the second quarter worth $122,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Carrier Global by 7.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,348 shares of the company’s stock worth $7,564,000 after purchasing an additional 7,509 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Company Profile

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.