Carrier Global (NYSE:CARR) Price Target Cut to $87.00 by Analysts at Barclays

Carrier Global (NYSE:CARR) had its price objective lowered by Barclays from $90.00 to $87.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on the company. Royal Bank of Canada dropped their target price on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Mizuho boosted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Bank of America boosted their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $65.19 on Wednesday. The business has a 50-day moving average of $68.34 and a two-hundred day moving average of $72.28. The firm has a market capitalization of $58.49 billion, a PE ratio of 16.50, a P/E/G ratio of 2.11 and a beta of 1.35. 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 has a 12 month low of $53.13 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period in the prior year, the firm posted $0.53 EPS. As a group, research analysts forecast that Carrier Global will post 2.52 earnings per share for the current year.

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

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Hedge Funds Weigh In On Carrier Global

A number of hedge funds have recently added to or reduced their stakes in CARR. BOK Financial Private Wealth Inc. increased its stake in Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after purchasing an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after buying an additional 180 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Carrier Global during the fourth quarter worth about $31,000. Finally, Meeder Asset Management Inc. lifted its holdings in Carrier Global by 236.1% in the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after acquiring an additional 340 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.