Carrier Global Corporation (NYSE:CARR) Receives $84.65 Average PT from Analysts

Shares of Carrier Global Corporation (NYSE:CARR) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $84.65.

Several research firms have weighed in on CARR. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Melius Research raised shares of Carrier Global to a “hold” rating and set a $90.00 price objective for the company in a research note on Tuesday, July 1st. Barclays upped their target price on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Finally, Mizuho set a $72.00 price target on shares of Carrier Global in a research note on Tuesday, April 22nd.

Insider Buying and Selling at Carrier Global

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

Institutional Investors Weigh In On Carrier Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Carrier Global during the 4th quarter worth approximately $28,000. Accredited Wealth Management LLC purchased a new position in Carrier Global during the 1st quarter worth approximately $28,000. Investment Research & Advisory Group Inc. acquired a new position in Carrier Global during the first quarter worth approximately $29,000. Finally, REAP Financial Group LLC purchased a new stake in Carrier Global in the second quarter valued at approximately $29,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 0.3%

Shares of NYSE CARR opened at $80.47 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $73.64 and its two-hundred day moving average is $68.31. Carrier Global has a 52-week low of $54.22 and a 52-week high of $83.32. The firm has a market cap of $68.99 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 2.20 and a beta of 1.31.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. Research analysts predict that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.12%. Carrier Global’s payout ratio is currently 13.93%.

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.