Shares of Carrier Global Co. (NYSE: CARR – Get a rating) earned a consensus recommendation of “Hold” from the eighteen research firms that currently cover the stock, reports MarketBeat Ratings. Ten equity research analysts rated the stock with a hold recommendation and six gave the company a buy recommendation. The 1-year average price target among brokers who have covered the stock over the past year is $54.13.
Several analysts have recently weighed in on the stock. KeyCorp lowered its price target on Carrier Global shares from $60.00 to $54.00 and set an “overweight” rating on the stock in a Wednesday, April 13 research report. Deutsche Bank Aktiengesellschaft lowered its price target on Carrier Global shares from $55.00 to $49.00 in a Friday, April 29 research report. TheStreet upgraded Carrier Global’s shares from a “b-” rating to a “c” rating in a Friday, April 29 research report. Morgan Stanley lowered its price target on Carrier Global shares from $46.00 to $42.00 and set an “overweight” rating on the stock in a Tuesday, May 31 research report. Finally, Bank of America upgraded Carrier Global shares from a “buy” rating to a “neutral” rating in a Wednesday, May 18 research report.
A number of institutional investors have recently increased or reduced their stake in CARR. Benjamin F. Edwards & Company Inc. increased its stake in Carrier Global by 3.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,938 shares of the company worth $2,220,000 after purchasing an additional 1,415 shares during the period. Hartford Investment Management Co. increased its position in Carrier Global by 8.6% during the fourth quarter. Hartford Investment Management Co. now owns 88,073 shares of the company worth $4,777,000 after purchasing an additional 6,997 shares in the last quarter. National Bank Huntington increased its position in Carrier Global by 0.3% during the fourth quarter. National Bank Huntington now owns 89,989 shares of the company worth $4,882,000 after buying 272 additional shares in the last quarter. James Reed Financial Services Inc. bought a new position in Carrier Global during Q4 for a value of approximately $43,000. Finally, National Bank of Canada FI purchased a new position in Carrier Global during the 4th quarter for a value of approximately $9,284,000. 85.55% of the shares are currently held by institutional investors.
NYSE:CARR shares opened at $34.78 on Thursday. The company has a fifty-day moving average price of $38.84 and a two-hundred-day moving average price of $44.97. The company has a debt ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.31. Carrier Global has a one-year low of $34.12 and a one-year high of $58.89. The company has a market capitalization of $29.50 billion, a price/earnings ratio of 11.52, a PEG ratio of 1.75 and a beta of 1.36.
Carrier Global (NYSE: CARR – Get a rating) last announced its quarterly results on Thursday, April 28. The company reported EPS of $0.54 for the quarter, beating the consensus estimate of $0.47 by $0.07. The company posted revenue of $4.65 billion in the quarter, versus a consensus estimate of $4.55 billion. Carrier Global had a net margin of 12.93% and a return on equity of 28.53%. The company’s quarterly revenue fell 1.0% from the same quarter last year. During the same period last year, the company achieved EPS of $0.48. Equity research analysts expect Carrier Global to post EPS of 2.29 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 10. Investors of record on Thursday, June 23 will receive a dividend of $0.15 per share. The ex-dividend date is Wednesday, June 22. This represents a dividend of $0.60 on an annualized basis and a dividend yield of 1.73%. Carrier Global’s dividend payout ratio is 19.87%.
About Carrier Global (Get a rating)
Carrier Global Corporation provides heating, ventilation and air conditioning (HVAC), refrigeration, fire, security and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration and Fire & Security. The HVAC segment provides products, controls, services and solutions to meet the heating, cooling and ventilation needs of residential and commercial customers.
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