Carrier Global Co. (NYSE:CARR) has been given a consensus recommendation of “Buy” by the nineteen brokerages that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $34.36.
A number of analysts recently issued reports on CARR shares. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Sunday, September 20th. They issued a “buy” rating and a $35.00 price target for the company. Vertical Research upgraded Carrier Global from a “hold” rating to a “buy” rating in a report on Monday, January 4th. KeyCorp upped their target price on Carrier Global from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, November 18th. Barclays lowered Carrier Global from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $38.00 to $45.00 in a report on Monday, November 30th. Finally, Stephens assumed coverage on Carrier Global in a report on Thursday, October 15th. They set an “overweight” rating and a $45.00 target price for the company.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CARR. Handelsbanken Fonder AB purchased a new position in Carrier Global in the 3rd quarter valued at approximately $6,270,000. City Holding Co. boosted its position in Carrier Global by 26.3% in the 4th quarter. City Holding Co. now owns 36,349 shares of the company’s stock valued at $1,371,000 after buying an additional 7,575 shares during the period. Kestra Advisory Services LLC purchased a new position in Carrier Global in the 3rd quarter valued at approximately $1,656,000. Roosevelt Investment Group Inc. boosted its position in Carrier Global by 7.4% in the 3rd quarter. Roosevelt Investment Group Inc. now owns 362,279 shares of the company’s stock valued at $11,064,000 after buying an additional 25,076 shares during the period. Finally, M&G Investment Management Ltd. purchased a new position in Carrier Global in the 3rd quarter valued at approximately $260,000. 83.02% of the stock is currently owned by hedge funds and other institutional investors.
Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. The firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.31 billion. Carrier Global had a return on equity of 24.00% and a net margin of 8.86%. Carrier Global’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. Research analysts predict that Carrier Global will post 1.66 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 10th. Stockholders of record on Wednesday, December 23rd will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 22nd. This is an increase from Carrier Global’s previous quarterly dividend of $0.08. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.16%.
Carrier Global Company Profile
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.
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