Carrier Global (NYSE:CARR) Stock Rating Upgraded by Northcoast Research

Northcoast Research upgraded shares of Carrier Global (NYSE:CARR) from a neutral rating to a buy rating in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have $85.00 target price on the stock.

CARR has been the subject of several other reports. Mizuho set a $72.00 price objective on shares of Carrier Global in a research note on Tuesday, April 22nd. Royal Bank of Canada lifted their price target on Carrier Global from $71.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Monday, February 24th. Barclays lifted their target price on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.53.

Carrier Global Trading Up 1.3%

Carrier Global stock opened at $71.44 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The stock has a market cap of $61.25 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The stock has a 50-day moving average of $63.72 and a two-hundred day moving average of $67.91. Carrier Global has a one year low of $54.22 and a one year high of $83.32.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. Carrier Global’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. On average, research analysts anticipate that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, May 2nd. Carrier Global’s payout ratio is 13.93%.

Institutional Trading of Carrier Global

Several institutional investors have recently modified their holdings of the stock. BOK Financial Private Wealth Inc. raised its position in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after buying an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth approximately $28,000. Mattson Financial Services LLC purchased a new stake in shares of Carrier Global during the 4th quarter valued at approximately $31,000. Finally, Investment Research & Advisory Group Inc. purchased a new stake in shares of Carrier Global during the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds 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.