Carrier Global (NYSE:CARR) Price Target Cut to $84.00 by Analysts at Robert W. Baird

Carrier Global (NYSE:CARR) had its target price cut by Robert W. Baird from $85.00 to $84.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently issued reports on the company. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Royal Bank Of Canada boosted their price target on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. The Goldman Sachs Group reiterated a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. Melius Research upgraded shares of Carrier Global to a “hold” rating and set a $90.00 target price on the stock in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $79.00 price target on shares of Carrier Global in a report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.47.

Carrier Global Trading Down 4.9%

Shares of Carrier Global stock opened at $68.14 on Wednesday. Carrier Global has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a current ratio of 1.17, a quick ratio of 0.83 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $58.42 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.95 and a beta of 1.31. The firm’s 50 day moving average is $73.49 and its 200 day moving average is $68.33.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Equities research analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, July 21st. Carrier Global’s payout ratio is 13.93%.

Insider Activity

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the sale, the director directly owned 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ritter Daniher Financial Advisory LLC DE raised its position in shares of Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after buying an additional 180 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at approximately $28,000. Accredited Wealth Management LLC purchased a new position in Carrier Global during the first quarter worth approximately $28,000. Investment Research & Advisory Group Inc. acquired a new stake in shares of Carrier Global in the 1st quarter worth $29,000. Finally, REAP Financial Group LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth $29,000. 91.00% of the stock is owned by institutional investors and hedge funds.

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.