Carrier Global (NYSE:CARR) Given New $87.00 Price Target at Barclays

Carrier Global (NYSE:CARR) had its price target reduced by Barclays from $90.00 to $87.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the company. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Robert W. Baird reduced their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Bank of America raised their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Stephens reduced their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Wells Fargo & Company reduced their price target on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.64.

Carrier Global Trading Down 2.4 %

Shares of CARR stock opened at $63.60 on Wednesday. The business’s 50 day moving average is $68.78 and its two-hundred day moving average is $72.40. Carrier Global has a twelve month low of $53.13 and a twelve month high of $83.32. The company has a market capitalization of $57.06 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period in the prior year, the company posted $0.53 EPS. Equities analysts forecast that Carrier Global will post 2.52 EPS for the current year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.42%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global declared that its board has authorized a stock repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Carrier Global

Several hedge funds have recently bought and sold shares of CARR. BOK Financial Private Wealth Inc. increased its position in Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after buying an additional 160 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Carrier Global during the third quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Carrier Global during the fourth quarter worth $31,000. Meeder Asset Management Inc. grew its position in shares of Carrier Global by 236.1% in the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock valued at $33,000 after purchasing an additional 340 shares during the period. Finally, McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.