Barclays Lowers Carrier Global (NYSE:CARR) Price Target to $90.00

Carrier Global (NYSE:CARR) had its price objective decreased by Barclays from $92.00 to $90.00 in a research note released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on CARR. The Goldman Sachs Group started coverage on Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Oppenheimer lifted their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Northcoast Research started coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. JPMorgan Chase & Co. started coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $83.21.

Carrier Global Trading Up 0.2 %

Shares of NYSE:CARR opened at $68.34 on Wednesday. Carrier Global has a 12-month low of $53.13 and a 12-month high of $83.32. The business’s fifty day simple moving average is $72.76 and its 200-day simple moving average is $71.99. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $61.32 billion, a PE ratio of 17.30, a P/E/G ratio of 2.73 and a beta of 1.36.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.32%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio is currently 22.78%.

Carrier Global announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FSM Wealth Advisors LLC lifted its stake in shares of Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after acquiring an additional 136 shares during the period. Meridian Wealth Management LLC lifted its position in shares of Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares in the last quarter. Essex Savings Bank raised its holdings in Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after acquiring an additional 144 shares in the last quarter. Boston Financial Mangement LLC raised its holdings in Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after acquiring an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC increased its stake in Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.