Carrier Global (NYSE:CARR) Price Target Cut to $82.00 by Analysts at Barclays

Carrier Global (NYSE:CARR) had its price target cut by Barclays from $84.00 to $82.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 price objective on shares of Carrier Global in a report on Tuesday, July 15th. Citigroup reiterated a “buy” rating and set a $89.00 target price (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Melius began coverage on Carrier Global in a research note on Tuesday, July 1st. They issued a “hold” rating and a $90.00 price target on the stock. Mizuho set a $72.00 price objective on Carrier Global in a report on Tuesday, April 22nd. Finally, Royal Bank Of Canada increased their target price on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.47.

Carrier Global Price Performance

CARR opened at $68.14 on Wednesday. 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 company has a market cap of $58.42 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.95 and a beta of 1.31. The stock has a fifty day simple moving average of $73.49 and a two-hundred day simple moving average of $68.33. Carrier Global has a 12-month low of $54.22 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion for 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%. Research analysts predict that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

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

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company’s stock in a transaction dated 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 sale, the director owned 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 7.20% of the company’s stock.

Institutional Trading of Carrier Global

Hedge funds and other institutional investors have recently modified their holdings of the business. Bleakley Financial Group LLC increased its holdings in Carrier Global by 4.7% in the 2nd quarter. Bleakley Financial Group LLC now owns 56,320 shares of the company’s stock valued at $4,122,000 after purchasing an additional 2,526 shares during the last quarter. Freedom Investment Management Inc. purchased a new stake in Carrier Global during the second quarter worth about $264,000. Forum Financial Management LP boosted its stake in shares of Carrier Global by 6.5% in the second quarter. Forum Financial Management LP now owns 9,166 shares of the company’s stock valued at $671,000 after purchasing an additional 561 shares during the period. Ethic Inc. grew its holdings in shares of Carrier Global by 6.7% in the second quarter. Ethic Inc. now owns 123,254 shares of the company’s stock valued at $9,080,000 after purchasing an additional 7,692 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in Carrier Global by 1.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after buying an additional 150 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

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.