Wolfe Research Upgrades Carrier Global (NYSE:CARR) to “Outperform”

Wolfe Research upgraded shares of Carrier Global (NYSE:CARR) from a peer perform rating to an outperform rating in a research note published on Monday, Marketbeat.com reports. They currently have $80.00 price target on the stock.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada cut their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. The Goldman Sachs Group started coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Wells Fargo & Company dropped their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Finally, 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. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $82.47.

Carrier Global Stock Performance

NYSE CARR opened at $66.46 on Monday. The firm has a market cap of $57.71 billion, a P/E ratio of 10.58, a P/E/G ratio of 2.01 and a beta of 1.35. Carrier Global has a 52-week low of $53.33 and a 52-week high of $83.32. The business’s 50-day moving average price is $67.36 and its 200 day moving average price is $72.41. 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 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 18.82% and a net margin of 23.83%. During the same period in the prior year, the company posted $0.53 EPS. On average, equities research analysts expect that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.35%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. Carrier Global’s dividend payout ratio is presently 14.33%.

Hedge Funds Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CARR. BOK Financial Private Wealth Inc. grew 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 purchasing an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake 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 buying an additional 180 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Carrier Global during the 3rd quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Carrier Global during the fourth quarter worth $31,000. Finally, Meeder Asset Management Inc. raised its holdings 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 worth $33,000 after acquiring an additional 340 shares during the last quarter. 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.