Carrier Global (NYSE:CARR) Upgraded to “Buy” at UBS Group

UBS Group upgraded shares of Carrier Global (NYSE:CARR) from a neutral rating to a buy rating in a research report report published on Wednesday, MarketBeat reports. The firm currently has $94.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Stephens lowered their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company dropped their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Morgan Stanley began 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 for the company. Oppenheimer lifted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Barclays cut their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Stock Down 0.6 %

CARR stock opened at $74.53 on Wednesday. The firm’s 50-day moving average is $77.73 and its two-hundred day moving average is $69.83. The company has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.34. Carrier Global has a 52 week low of $51.20 and a 52 week high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its Board of Directors has approved a share buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

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 given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is 19.24%.

Hedge Funds Weigh In On Carrier Global

A number of large investors have recently made changes to their positions in the business. Frank Rimerman Advisors LLC grew its position in Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after purchasing an additional 13,677 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Carrier Global by 50.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after acquiring an additional 130,192 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Carrier Global in the first quarter worth $2,019,000. Kintegral Advisory LLC raised its holdings in shares of Carrier Global by 44.2% during the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after acquiring an additional 8,705 shares in the last quarter. Finally, Rockport Wealth LLC acquired a new stake in Carrier Global during the first quarter valued at $478,000. 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.