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

Shares of Carrier Global Co. (NYSE:CARR) have earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $83.00.

Several equities research analysts recently commented on CARR shares. Wells Fargo & Company lifted their price target on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Monday, February 24th. Northcoast Research raised shares of 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. Citigroup lowered their price objective on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Barclays raised their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $71.09 on Monday. The company’s fifty day moving average price is $66.27 and its 200 day moving average price is $67.70. Carrier Global has a 12 month low of $54.22 and a 12 month 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. The firm has a market capitalization of $60.95 billion, a P/E ratio of 11.32, a P/E/G ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the business earned $0.51 EPS. Carrier Global’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, May 2nd. Carrier Global’s payout ratio is 13.93%.

Insider Activity

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the sale, the director now owns 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.20% of the company’s stock.

Institutional Trading of Carrier Global

Several institutional investors and hedge funds have recently modified their holdings of the business. Nuveen LLC acquired a new position in shares of Carrier Global in the first quarter valued at approximately $649,512,000. Norges Bank purchased a new stake in Carrier Global during the fourth quarter worth approximately $588,029,000. Wealthfront Advisers LLC grew its stake 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 buying an additional 4,915,826 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after purchasing an additional 4,668,929 shares during the period. Finally, Brown Advisory Inc. boosted its stake 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 purchasing an additional 4,377,402 shares during the period. 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.