Carrier Global (NYSE:CARR) Price Target Raised to $90.00 at Bank of America

Carrier Global (NYSE:CARR) had its target price upped by Bank of America from $80.00 to $90.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also weighed in on CARR. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Robert W. Baird decreased their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company lifted their target price on shares of Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Carrier Global Stock Up 0.1 %

CARR stock opened at $81.55 on Friday. The stock has a market capitalization of $73.48 billion, a P/E ratio of 57.03, a PEG ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global has a one year low of $45.68 and a one year high of $83.32. The company has a 50 day moving average price of $75.32 and a two-hundred day moving average price of $67.15.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 EPS. As a group, sell-side analysts expect that Carrier Global will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 6.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after buying an additional 466,829 shares during the last quarter. Capital International Investors lifted its holdings in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares during the last quarter. PineStone Asset Management Inc. lifted its holdings in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after buying an additional 3,741,206 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Carrier Global by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after buying an additional 72,633 shares during the last quarter. Institutional investors 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.