Carrier Global (NYSE:CARR) Stock Price Expected to Rise, Barclays Analyst Says

Carrier Global (NYSE:CARR) had its target price increased by Barclays from $89.00 to $92.00 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

CARR has been the topic of a number of other reports. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Stephens lowered their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Oppenheimer lifted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Mizuho lifted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada decreased their price target on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average price target of $82.54.

Carrier Global Price Performance

Shares of CARR opened at $73.99 on Thursday. Carrier Global has a fifty-two week low of $52.54 and a fifty-two week high of $83.32. The firm has a market capitalization of $66.39 billion, a PE ratio of 18.73, a PEG ratio of 2.80 and a beta of 1.33. The company’s 50-day moving average is $77.35 and its 200-day moving average is $70.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global declared that its Board of Directors has initiated a share buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.03%. Carrier Global’s payout ratio is 19.24%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. FSM Wealth Advisors LLC raised its holdings in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares during the period. Meridian Wealth Management LLC boosted its position in Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after purchasing an additional 137 shares in the last quarter. Essex Savings Bank boosted its position in Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares in the last quarter. Boston Financial Mangement LLC raised its stake in Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after buying an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC raised its stake in Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after buying an additional 150 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.