Carrier Global Corporation (NYSE:CARR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Carrier Global Corporation (NYSE:CARR) have been given an average rating of “Moderate Buy” by the twenty research firms that are currently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $71.0588.

A number of analysts have weighed in on CARR shares. Deutsche Bank Aktiengesellschaft reduced their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, October 29th. Rothschild & Co Redburn boosted their target price on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Citigroup dropped their price target on shares of Carrier Global from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Barclays reduced their price objective on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th.

Hedge Funds Weigh In On Carrier Global

Several large investors have recently made changes to their positions in the business. AdvisorShares Investments LLC bought a new position in Carrier Global in the 2nd quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Carrier Global in the third quarter worth $25,000. Winnow Wealth LLC bought a new position in Carrier Global during the second quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Carrier Global during the second quarter worth $26,000. Finally, Clayton Financial Group LLC acquired a new position in Carrier Global during the 3rd quarter valued at $26,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $55.39 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. Carrier Global has a one year low of $50.24 and a one year high of $81.09. The business’s 50-day moving average price is $53.95 and its two-hundred day moving average price is $61.49. The company has a market capitalization of $46.65 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Analysts anticipate that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. Carrier Global’s dividend payout ratio is currently 20.13%.

Carrier Global announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.