Carrier Global Corporation (NYSE:CARR) Given Average Rating of “Hold” by Brokerages

Shares of Carrier Global Corporation (NYSE:CARR) have been assigned an average recommendation of “Hold” from the nineteen analysts that are covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $72.00.

A number of brokerages have recently issued reports on CARR. Robert W. Baird set a $72.00 target price on shares of Carrier Global in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price target on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Wolfe Research set a $74.00 price target on Carrier Global in a research report on Tuesday, December 9th.

Institutional Investors Weigh In On Carrier Global

Large investors have recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after acquiring an additional 1,850 shares during the period. Versor Investments LP raised its position in Carrier Global by 27.7% during the first quarter. Versor Investments LP now owns 4,853 shares of the company’s stock valued at $308,000 after purchasing an additional 1,053 shares in the last quarter. Wellington Management Group LLP raised its position in Carrier Global by 11.1% during the first quarter. Wellington Management Group LLP now owns 201,781 shares of the company’s stock valued at $12,793,000 after purchasing an additional 20,120 shares in the last quarter. RWA Wealth Partners LLC lifted its stake in Carrier Global by 5.8% during the first quarter. RWA Wealth Partners LLC now owns 5,400 shares of the company’s stock worth $342,000 after purchasing an additional 295 shares during the last quarter. Finally, Groupama Asset Managment boosted its holdings in shares of Carrier Global by 15.5% in the 1st quarter. Groupama Asset Managment now owns 14,911 shares of the company’s stock valued at $944,000 after purchasing an additional 1,997 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Carrier Global stock opened at $53.31 on Friday. The company has a market capitalization of $44.90 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.31 and a beta of 1.30. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global has a 12 month low of $50.30 and a 12 month high of $81.09. The stock’s 50 day moving average is $55.18 and its 200-day moving average is $63.24.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities research analysts expect that Carrier Global will post 2.99 EPS for the current year.

Carrier Global declared that its Board of Directors has approved a share buyback program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be issued a dividend of $0.24 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. Carrier Global’s payout ratio is currently 20.13%.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.