Barclays Lowers Carrier Global (NYSE:CARR) Price Target to $87.00

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

CARR has been the subject of a number of other research reports. Northcoast Research started coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. The Goldman Sachs Group started coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Citigroup lowered their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Bank of America boosted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $63.60 on Wednesday. The company has a market cap of $57.06 billion, a P/E ratio of 16.10, a P/E/G ratio of 2.11 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global has a 52 week low of $53.13 and a 52 week high of $83.32. The business has a fifty day simple moving average of $68.78 and a 200-day simple moving average of $72.40.

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

Carrier Global declared that its board has approved a stock buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.42%. Carrier Global’s payout ratio is 22.78%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CARR. FSA Wealth Management LLC acquired a new stake in Carrier Global during the third quarter valued at approximately $28,000. BOK Financial Private Wealth Inc. raised 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 buying an additional 160 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares in the last quarter. Coastline Trust Co acquired a new stake in Carrier Global during the third quarter valued at approximately $37,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Carrier Global during the fourth quarter valued at approximately $31,000. 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.