Robert W. Baird Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Key Points

• Carrier Global had its price target reduced from $85.00 to $84.00 by analysts at Robert W. Baird, suggesting a potential upside of 20.47% from its previous close.
• Following the downgrade, several analysts have varying ratings for the stock, with seven maintaining a hold and ten giving a buy rating, resulting in a consensus rating of "Moderate Buy".
• In significant insider trading news, Director Maximilian Viessmann sold 4,267,425 shares at an average price of $70.30, indicating a 7.28% decrease in his ownership of the stock.

Carrier Global (NYSE:CARR - Free Report) had its price objective trimmed by Robert W. Baird from $85.00 to $84.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Barclays decreased their price objective on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a research note on Tuesday, July 15th. Melius started coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective for the company. Finally, Melius Research upgraded shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a research note on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.47.

Carrier Global Trading Down 2.5%

Shares of CARR stock opened at $66.90 on Wednesday. Carrier Global has a 1 year low of $54.22 and a 1 year high of $83.32. The stock's 50 day simple moving average is $73.35 and its two-hundred day simple moving average is $68.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The company has a market cap of $56.93 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Research analysts predict that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be issued a $0.225 dividend. 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 1.3%. Carrier Global's dividend payout ratio (DPR) is 19.61%.

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the 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 transaction, the director directly owned 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ritter Daniher Financial Advisory LLC DE increased its holdings in Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after buying an additional 180 shares in the last quarter. REAP Financial Group LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth approximately $29,000. Park Square Financial Group LLC purchased a new stake in Carrier Global in the 4th quarter worth approximately $28,000. Accredited Wealth Management LLC purchased a new stake in Carrier Global in the 1st quarter worth approximately $28,000. Finally, Mattson Financial Services LLC purchased a new stake in Carrier Global in the 4th quarter worth approximately $31,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.