Carrier Global Co. (NYSE:CARR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Carrier Global Co. (NYSE:CARR) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $82.31.

A number of brokerages recently commented on CARR. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley initiated coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Bank of America upped their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Finally, Robert W. Baird decreased their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp raised its holdings in shares of Carrier Global by 8.9% during the 3rd quarter. M&T Bank Corp now owns 311,453 shares of the company’s stock valued at $25,069,000 after buying an additional 25,346 shares during the period. Soltis Investment Advisors LLC raised its stake in shares of Carrier Global by 5.1% during the third quarter. Soltis Investment Advisors LLC now owns 12,730 shares of the company’s stock valued at $1,025,000 after purchasing an additional 615 shares during the period. Toronto Dominion Bank lifted its position in shares of Carrier Global by 14.0% during the third quarter. Toronto Dominion Bank now owns 289,988 shares of the company’s stock worth $23,341,000 after purchasing an additional 35,550 shares in the last quarter. Wilson & Boucher Capital Management LLC boosted its stake in shares of Carrier Global by 19.2% in the third quarter. Wilson & Boucher Capital Management LLC now owns 6,297 shares of the company’s stock valued at $507,000 after purchasing an additional 1,015 shares during the period. Finally, Coldstream Capital Management Inc. grew its holdings in Carrier Global by 33.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,635 shares of the company’s stock valued at $927,000 after purchasing an additional 2,942 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 0.2 %

Carrier Global stock opened at $74.50 on Thursday. Carrier Global has a fifty-two week low of $51.20 and a fifty-two week high of $83.32. The firm has a market capitalization of $66.84 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 2.68 and a beta of 1.34. The stock’s fifty day moving average is $77.86 and its two-hundred day moving average is $70.10. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

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

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, October 25th were issued a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.02%. Carrier Global’s payout ratio is 19.24%.

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.