Carrier Global (NYSE:CARR) Price Target Cut to $90.00 by Analysts at Barclays

Carrier Global (NYSE:CARR - Free Report) had its target price cut by Barclays from $92.00 to $90.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

CARR has been the topic of a number of other research reports. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research report on Thursday, October 10th. They set a "neutral" rating and a $83.00 price objective on the stock. Wells Fargo & Company reduced their price target on Carrier Global from $80.00 to $75.00 and set an "equal weight" rating on the stock in a report on Tuesday. Northcoast Research assumed coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a "neutral" rating for the company. Robert W. Baird reduced their target price on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Finally, Mizuho increased their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.21.

Carrier Global Price Performance

CARR traded up $0.13 during trading on Wednesday, reaching $68.34. The company's stock had a trading volume of 3,798,911 shares, compared to its average volume of 3,790,662. The company has a market cap of $61.32 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.73 and a beta of 1.36. The firm has a fifty day simple moving average of $72.76 and a two-hundred day simple moving average of $71.99. Carrier Global has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.32%. This is a boost from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global's payout ratio is presently 22.78%.

Hedge Funds Weigh In On Carrier Global

Several large investors have recently bought and sold shares of the business. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global in the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. boosted its stake in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co purchased a new position in Carrier Global during the 3rd quarter worth $37,000. Meeder Asset Management Inc. increased its stake in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock valued at $29,000 after purchasing an additional 405 shares during the period. Finally, Country Trust Bank purchased a new stake in shares of Carrier Global in the third quarter valued at about $40,000. Hedge funds and other institutional investors 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.