JPMorgan Chase & Co. Issues Positive Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price objective upped by JPMorgan Chase & Co. from $66.00 to $79.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CARR has been the subject of a number of other research reports. Citigroup reduced their price objective on Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Royal Bank of Canada raised their target price on Carrier Global from $71.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Friday, May 9th. Wells Fargo & Company increased their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Finally, Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.53.

Carrier Global Stock Up 2.9%

Shares of CARR stock opened at $75.63 on Friday. Carrier Global has a 12 month low of $54.22 and a 12 month high of $83.32. The stock has a 50 day moving average of $64.53 and a 200-day moving average of $67.91. The firm has a market cap of $64.83 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

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

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global’s dividend payout ratio is 13.93%.

Institutional Investors Weigh In On Carrier Global

Institutional investors and hedge funds have recently made changes to their positions in the company. RFG Advisory LLC boosted its stake in shares of Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after purchasing an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC boosted its stake in Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after acquiring an additional 19,018 shares during the last quarter. Waldron Private Wealth LLC boosted its stake in Carrier Global by 90.5% in the fourth quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company’s stock valued at $1,128,000 after acquiring an additional 7,854 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Carrier Global by 27.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company’s stock worth $89,706,000 after acquiring an additional 285,803 shares during the period. Finally, Gateway Wealth Partners LLC raised its position in shares of Carrier Global by 221.8% during the 4th quarter. Gateway Wealth Partners LLC now owns 10,327 shares of the company’s stock valued at $705,000 after acquiring an additional 7,118 shares during the last quarter. 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.