Carrier Global Co. (NYSE:CARR) Receives Average Rating of “Hold” from Analysts

Carrier Global Co. (NYSE:CARR) has earned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $62.71.

A number of research firms recently weighed in on CARR. TD Cowen upped their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their target price on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Barclays increased their target price on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Royal Bank of Canada lowered their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Citigroup raised their price target on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th.

Insider Transactions at Carrier Global

In other news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Insiders have sold a total of 541,005 shares of company stock valued at $30,536,214 in the last ninety days. 6.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds have recently modified their holdings of the business. Howland Capital Management LLC purchased a new stake in shares of Carrier Global in the first quarter valued at approximately $325,000. Geneos Wealth Management Inc. raised its holdings in shares of Carrier Global by 10.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,694 shares of the company’s stock worth $157,000 after acquiring an additional 244 shares during the period. WBI Investments LLC acquired a new position in shares of Carrier Global during the 1st quarter valued at about $1,768,000. Team Hewins LLC grew its holdings in shares of Carrier Global by 26.7% in the first quarter. Team Hewins LLC now owns 6,349 shares of the company’s stock valued at $369,000 after purchasing an additional 1,336 shares during the period. Finally, Affinity Investment Advisors LLC acquired a new stake in Carrier Global during the first quarter worth about $200,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Up 1.9 %

Shares of CARR opened at $62.09 on Friday. Carrier Global has a 1 year low of $40.28 and a 1 year high of $63.79. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The business’s 50 day simple moving average is $57.32 and its 200-day simple moving average is $55.09. The stock has a market capitalization of $55.94 billion, a price-to-earnings ratio of 43.42, a price-to-earnings-growth ratio of 2.56 and a beta of 1.34.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. As a group, equities analysts expect that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.22%. Carrier Global’s payout ratio is 53.15%.

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.