Carrier Global Corporation (NYSE:CARR) Receives Consensus Rating of "Moderate Buy" from Brokerages

Carrier Global Corporation (NYSE:CARR - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $83.00.

A number of equities research analysts have weighed in on CARR shares. Mizuho set a $72.00 price objective on shares of Carrier Global in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Citigroup cut their price objective on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company upped their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Robert W. Baird upped their price objective on shares of Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th.

Insider Activity 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 stock was 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 now directly owns 54,341,534 shares in the company, valued at $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in Carrier Global by 17.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares during the period. Geode Capital Management LLC raised its holdings in Carrier Global by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock worth $1,181,300,000 after purchasing an additional 420,081 shares during the period. Fisher Asset Management LLC raised its holdings in Carrier Global by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company's stock worth $977,028,000 after purchasing an additional 46,222 shares during the period. Nuveen LLC bought a new position in Carrier Global in the 1st quarter worth $649,512,000. Finally, Brown Advisory Inc. raised its holdings in Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after purchasing an additional 4,377,402 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of NYSE CARR opened at $72.60 on Friday. Carrier Global has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. The company's 50-day moving average is $69.66 and its 200 day moving average is $67.27. The stock has a market capitalization of $62.24 billion, a P/E ratio of 11.24, a P/E/G ratio of 2.03 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. The business had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The business's revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, sell-side analysts expect that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be given a dividend of $0.225 per share. The ex-dividend date is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.24%. Carrier Global's dividend payout ratio (DPR) is 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.

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