Carrier Global (NYSE:CARR) Price Target Lowered to $66.00 at Robert W. Baird

Carrier Global (NYSE:CARR) had its target price trimmed by Robert W. Baird from $72.00 to $66.00 in a research report released on Monday morning,MarketScreener reports. The brokerage currently has an outperform rating on the stock.

CARR has been the subject of a number of other reports. Mizuho decreased their price target on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Finally, Rothschild & Co Redburn lowered their price objective on Carrier Global from $67.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

Carrier Global Stock Up 0.2%

Shares of NYSE:CARR opened at $57.40 on Monday. The stock’s 50-day moving average is $54.00 and its 200 day moving average is $60.18. The company has a market cap of $48.34 billion, a PE ratio of 12.84, a P/E/G ratio of 2.30 and a beta of 1.31. 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 1 year low of $50.24 and a 1 year high of $81.09.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the business posted $0.83 EPS. The business’s revenue was down 6.8% on a year-over-year basis. Sell-side analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $0.96 annualized dividend and a dividend yield of 1.7%. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s payout ratio is presently 21.48%.

Carrier Global announced that its board has authorized a share repurchase plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently made changes to their positions in CARR. AdvisorShares Investments LLC purchased a new stake in Carrier Global during the 2nd quarter valued at $25,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Carrier Global in the third quarter worth $25,000. YANKCOM Partnership lifted its holdings in shares of Carrier Global by 78.5% during the fourth quarter. YANKCOM Partnership now owns 473 shares of the company’s stock valued at $25,000 after purchasing an additional 208 shares in the last quarter. Winnow Wealth LLC purchased a new stake in shares of Carrier Global during the second quarter valued at $26,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Carrier Global in the 2nd quarter worth about $26,000. Institutional investors own 91.00% of the company’s stock.

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.