Carrier Global Co. (NYSE:CARR) Given Consensus Rating of “Moderate Buy” by Brokerages

Carrier Global Co. (NYSE:CARR) has been given an average recommendation of “Moderate Buy” by the seventeen analysts that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $82.47.

Several brokerages recently issued reports on CARR. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Northcoast Research began coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Barclays dropped their price target on Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Finally, Citigroup dropped their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th.

Carrier Global Trading Up 1.1 %

Shares of NYSE:CARR opened at $64.81 on Friday. The business’s 50-day moving average is $67.15 and its 200 day moving average is $72.33. Carrier Global has a 1 year low of $53.33 and a 1 year high of $83.32. The firm has a market capitalization of $56.00 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.01 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter last year, the company posted $0.53 EPS. On average, research analysts predict that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.39%. Carrier Global’s dividend payout ratio is presently 14.33%.

Institutional Trading of Carrier Global

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Carrier Global during the fourth quarter worth approximately $588,029,000. Wealthfront Advisers LLC boosted its position in Carrier Global by 5,840.1% during the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock worth $341,300,000 after purchasing an additional 4,915,826 shares in the last quarter. Brown Advisory Inc. boosted its position in Carrier Global by 139.1% during the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock worth $361,544,000 after purchasing an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Carrier Global during the fourth quarter worth approximately $166,061,000. Finally, FMR LLC boosted its position in Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.