Carrier Global (NYSE:CARR) Given Buy Rating at Citigroup

Citigroup reaffirmed their buy rating on shares of Carrier Global (NYSE:CARR - Free Report) in a research report report published on Monday, Marketbeat reports. They currently have a $89.00 price target on the stock, up from their prior price target of $82.00.

A number of other brokerages also recently commented on CARR. Melius began coverage on Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price target for the company. Wells Fargo & Company lifted their target price on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research report on Friday, May 9th. Mizuho set a $72.00 price objective on shares of Carrier Global in a report on Tuesday, April 22nd. Finally, Melius Research upgraded shares of Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a research note on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.65.

Carrier Global Stock Up 2.0%

CARR traded up $1.49 during midday trading on Monday, reaching $76.92. 2,778,025 shares of the company were exchanged, compared to its average volume of 4,680,370. The company has a market cap of $65.95 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31. Carrier Global has a one year low of $54.22 and a one year high of $83.32. The company's fifty day moving average price is $72.88 and its 200 day moving average price is $67.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the prior year, the firm posted $0.51 EPS. Carrier Global's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, analysts expect that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Monday, July 21st. Carrier Global's payout ratio is 13.93%.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction on 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 $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after buying an additional 1,850 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Carrier Global by 62.6% during the fourth quarter. Proficio Capital Partners LLC now owns 7,198 shares of the company's stock worth $491,000 after acquiring an additional 2,770 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of Carrier Global by 76.4% in the 4th quarter. Independent Advisor Alliance now owns 10,919 shares of the company's stock worth $745,000 after acquiring an additional 4,730 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Carrier Global by 602.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,432 shares of the company's stock valued at $3,511,000 after purchasing an additional 44,105 shares in the last quarter. Finally, Choate Investment Advisors boosted its stake in shares of Carrier Global by 35.7% in the 4th quarter. Choate Investment Advisors now owns 18,661 shares of the company's stock valued at $1,274,000 after purchasing an additional 4,906 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.