Carrier Global Co. (NYSE:CARR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Carrier Global Co. (NYSE:CARR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the sixteen ratings firms that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $82.54.

A number of equities analysts have recently weighed in on the stock. Robert W. Baird lowered their price target 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. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price objective on the stock. Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a "neutral" rating on the stock. Barclays increased their price objective on shares of Carrier Global from $89.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Royal Bank of Canada lowered their price objective on shares of Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th.

Carrier Global Price Performance

Shares of NYSE:CARR traded down $0.48 on Monday, reaching $73.19. 3,768,679 shares of the company were exchanged, compared to its average volume of 4,201,348. 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 has a 1-year low of $53.13 and a 1-year high of $83.32. The firm has a market cap of $65.67 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. The company has a 50-day moving average of $77.22 and a 200-day moving average of $71.08.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, December 20th. Carrier Global's dividend payout ratio is presently 19.24%.

Carrier Global declared that its Board of Directors has authorized a stock buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CARR. Franklin Resources Inc. raised its holdings in Carrier Global by 1.2% in the third quarter. Franklin Resources Inc. now owns 224,323 shares of the company's stock valued at $18,545,000 after buying an additional 2,596 shares during the period. Peapack Gladstone Financial Corp grew its position in shares of Carrier Global by 1.4% during the third quarter. Peapack Gladstone Financial Corp now owns 176,984 shares of the company's stock worth $14,246,000 after buying an additional 2,397 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Carrier Global by 280.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 34,717 shares of the company's stock worth $2,794,000 after buying an additional 25,594 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Carrier Global by 0.3% during the third quarter. Sanctuary Advisors LLC now owns 70,379 shares of the company's stock worth $5,419,000 after buying an additional 237 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in Carrier Global by 6.6% in the third quarter. Anchor Investment Management LLC now owns 5,745 shares of the company's stock worth $462,000 after purchasing an additional 355 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.