Brokerages Set Carrier Global Co. (NYSE:CARR) Target Price at $45.87

Carrier Global Co. (NYSE:CARR) has been assigned an average rating of “Buy” from the sixteen research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $45.87.

Several analysts recently issued reports on CARR shares. UBS Group raised their price target on Carrier Global from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 22nd. Zacks Investment Research upgraded Carrier Global from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Monday, May 3rd. Cowen upgraded shares of Carrier Global from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $40.00 to $43.00 in a research report on Wednesday, March 10th. Barclays lifted their price objective on shares of Carrier Global from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, April 6th. Finally, Morgan Stanley upped their target price on shares of Carrier Global from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, April 30th.

A number of large investors have recently added to or reduced their stakes in the stock. Sierra Capital LLC acquired a new position in shares of Carrier Global in the 1st quarter valued at about $26,000. Tacita Capital Inc acquired a new position in shares of Carrier Global in the 4th quarter valued at about $27,000. Elmwood Wealth Management Inc. acquired a new position in Carrier Global in the first quarter worth approximately $31,000. Ironwood Wealth Management LLC. acquired a new position in Carrier Global in the fourth quarter worth approximately $29,000. Finally, Cedar Mountain Advisors LLC increased its holdings in Carrier Global by 294.5% in the first quarter. Cedar Mountain Advisors LLC now owns 856 shares of the company’s stock worth $36,000 after buying an additional 639 shares during the last quarter. 83.78% of the stock is currently owned by hedge funds and other institutional investors.

CARR stock traded down $1.08 during trading on Friday, hitting $45.05. 7,343,632 shares of the company’s stock traded hands, compared to its average volume of 5,931,717. The stock has a market cap of $39.15 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.68 and a beta of 0.81. Carrier Global has a 52 week low of $20.59 and a 52 week high of $47.13. The firm’s fifty day moving average price is $44.57. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 1.40.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 29th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.11. Carrier Global had a net margin of 12.43% and a return on equity of 27.29%. The business had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the business posted $0.35 EPS. The company’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, equities analysts forecast that Carrier Global will post 2.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 10th. Stockholders of record on Thursday, June 24th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, June 23rd. Carrier Global’s dividend payout ratio (DPR) is presently 28.92%.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, 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 and cooling needs of residential and commercial customers.

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Analyst Recommendations for Carrier Global (NYSE:CARR)

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