Carrier Global (NYSE:CARR) Stock Gets Price Target Cut from Robert W. Baird

Carrier Global (NYSE:CARR) had its price objective trimmed by Robert W. Baird from $72.00 to $70.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also weighed in on CARR. Royal Bank Of Canada decreased their target price on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft dropped their price target on Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, September 30th. BNP Paribas Exane reduced their price objective on Carrier Global from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Wolfe Research reiterated an “outperform” rating and set a $80.00 price objective on shares of Carrier Global in a research report on Thursday, July 9th. Finally, Citigroup lowered their price objective on Carrier Global from $80.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $69.27.

Carrier Global Stock Performance

NYSE:CARR opened at $55.58 on Monday. The company’s 50-day moving average price is $56.11 and its 200-day moving average price is $61.71. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. The company has a market cap of $45.47 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.02 and a beta of 1.33. Carrier Global has a twelve month low of $50.24 and a twelve month high of $76.76.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same period in the previous year, the business posted $0.67 earnings per share. Carrier Global’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts forecast that Carrier Global will post 2.86 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.7%. Carrier Global’s dividend payout ratio is -43.24%.

Institutional Trading of Carrier Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Keybank National Association OH increased its holdings in shares of Carrier Global by 3.3% in the 3rd quarter. Keybank National Association OH now owns 140,797 shares of the company’s stock valued at $7,724,000 after acquiring an additional 4,518 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in shares of Carrier Global by 72.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 6,509 shares of the company’s stock worth $357,000 after acquiring an additional 2,727 shares in the last quarter. Gables Capital Management Inc. raised its position in shares of Carrier Global by 108.2% during the 3rd quarter. Gables Capital Management Inc. now owns 4,268 shares of the company’s stock worth $234,000 after acquiring an additional 2,218 shares in the last quarter. New York Life Investment Management LLC lifted its stake in Carrier Global by 42.6% during the third quarter. New York Life Investment Management LLC now owns 155,386 shares of the company’s stock worth $8,524,000 after purchasing an additional 46,430 shares during the last quarter. Finally, Nemes Rush Group LLC lifted its stake in Carrier Global by 78.7% during the third quarter. Nemes Rush Group LLC now owns 770 shares of the company’s stock worth $42,000 after purchasing an additional 339 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.