Royal Bank of Canada Boosts Carrier Global (NYSE:CARR) Price Target to $87.00

Carrier Global (NYSE:CARR) had its price objective boosted by Royal Bank of Canada from $86.00 to $87.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued reports about the company. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Friday, May 9th. Mizuho set a $72.00 price objective on Carrier Global in a research report on Tuesday, April 22nd. Citigroup decreased their price objective on Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Barclays increased their price objective on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their price objective on Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Carrier Global Stock Down 1.3%

NYSE CARR opened at $74.87 on Tuesday. The firm has a market cap of $64.19 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global has a one year low of $54.22 and a one year high of $83.32. The stock’s 50 day simple moving average is $64.95 and its 200 day simple moving average is $67.98. 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 data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. As a group, sell-side analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

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 $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is currently 13.93%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its stake in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after buying an additional 143 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Carrier Global by 21.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 5,034 shares of the company’s stock worth $344,000 after buying an additional 899 shares during the period. Pure Financial Advisors LLC raised its stake in Carrier Global by 10.1% during the 4th quarter. Pure Financial Advisors LLC now owns 4,652 shares of the company’s stock worth $318,000 after buying an additional 425 shares during the period. Ballentine Partners LLC raised its stake in Carrier Global by 5.5% during the 4th quarter. Ballentine Partners LLC now owns 16,162 shares of the company’s stock worth $1,103,000 after buying an additional 836 shares during the period. Finally, Simon Quick Advisors LLC raised its stake in Carrier Global by 5.4% during the 4th quarter. Simon Quick Advisors LLC now owns 3,235 shares of the company’s stock worth $221,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds 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.