Brokerages Set Carrier Global Co. (NYSE:CARR) PT at $83.00

Shares of Carrier Global Co. (NYSE:CARR - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $83.00.

CARR has been the topic of a number of research reports. Royal Bank of Canada upped their target price on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Wells Fargo & Company raised their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Citigroup lowered their target price on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 14th. Mizuho set a $72.00 target price on shares of Carrier Global in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st.

Carrier Global Price Performance

Shares of NYSE:CARR traded up $0.53 during midday trading on Monday, reaching $70.87. The company's stock had a trading volume of 3,328,940 shares, compared to its average volume of 5,602,778. Carrier Global has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The business's fifty day simple moving average is $65.69 and its 200-day simple moving average is $67.69. The company has a market capitalization of $60.76 billion, a P/E ratio of 11.29, a P/E/G ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, equities research analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Friday, May 2nd. Carrier Global's dividend payout ratio is 13.93%.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Carrier Global by 30.3% during the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock worth $543,000 after buying an additional 1,850 shares during the period. OLD National Bancorp IN boosted its position in Carrier Global by 2.9% during the 4th quarter. OLD National Bancorp IN now owns 7,932 shares of the company's stock worth $541,000 after acquiring an additional 225 shares during the last quarter. Caprock Group LLC grew its stake in shares of Carrier Global by 23.9% during the 4th quarter. Caprock Group LLC now owns 25,974 shares of the company's stock worth $1,779,000 after acquiring an additional 5,018 shares in the last quarter. Waldron Private Wealth LLC raised its holdings in shares of Carrier Global by 90.5% in the fourth quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company's stock valued at $1,128,000 after purchasing an additional 7,854 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Carrier Global by 2.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company's stock valued at $403,000 after purchasing an additional 147 shares during the last quarter. 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.