Carrier Global (NYSE:CARR) Price Target Raised to $75.00

Carrier Global (NYSE:CARR) had its price objective boosted by Wells Fargo & Company from $65.00 to $75.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also recently commented on CARR. JPMorgan Chase & Co. cut their target price on Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Monday, February 24th. Mizuho set a $72.00 price objective on Carrier Global in a report on Tuesday, April 22nd. Royal Bank of Canada lifted their target price on shares of Carrier Global from $71.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Barclays decreased their price target on shares of Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.29.

Carrier Global Stock Down 0.2 %

Shares of NYSE CARR opened at $70.04 on Monday. The business has a 50-day moving average of $63.38 and a two-hundred day moving average of $68.16. The company has a market capitalization of $60.51 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global has a 1 year low of $54.22 and a 1 year high of $83.32. 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 quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.225 per share. The ex-dividend date is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.28%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

Institutional Trading of Carrier Global

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $588,029,000. Wealthfront Advisers LLC grew its holdings in Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after purchasing an additional 4,915,826 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after buying an additional 4,377,402 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Carrier Global during the 4th quarter worth $166,061,000. Finally, Raymond James Financial Inc. acquired a new stake in Carrier Global in the 4th quarter valued at about $108,433,000. Hedge funds and other institutional investors 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.