Northcoast Research Initiates Coverage on Carrier Global (NYSE:CARR)

Northcoast Research initiated coverage on shares of Carrier Global (NYSE:CARR - Free Report) in a report published on Friday, Marketbeat Ratings reports. The brokerage issued a neutral rating on the stock.

Several other equities analysts have also recently commented on CARR. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They set a "neutral" rating and a $83.00 target price for the company. Stephens decreased their price objective on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Robert W. Baird lowered their price objective on Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Finally, Morgan Stanley initiated coverage on Carrier Global in a research note on Friday, September 6th. They set an "equal weight" rating and a $75.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.31.

Carrier Global Stock Up 1.3 %

Shares of Carrier Global stock traded up $0.99 during trading hours on Friday, hitting $77.00. 4,481,317 shares of the company's stock traded hands, compared to its average volume of 4,212,257. 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 has a twelve month low of $51.20 and a twelve month high of $83.32. The stock has a 50 day simple moving average of $77.87 and a 200-day simple moving average of $70.14. The company has a market cap of $69.09 billion, a PE ratio of 19.43, a PEG ratio of 2.67 and a beta of 1.34.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were given a dividend of $0.19 per share. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. Carrier Global's dividend payout ratio is presently 19.24%.

Carrier Global announced that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Carrier Global

Institutional investors have recently added to or reduced their stakes in the company. PineStone Asset Management Inc. increased its holdings in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company's stock valued at $404,903,000 after buying an additional 3,741,206 shares in the last quarter. FMR LLC lifted its holdings in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company's stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Carrier Global in the 3rd quarter worth about $130,479,000. Point72 Asset Management L.P. acquired a new stake in Carrier Global during the 2nd quarter worth about $58,415,000. Finally, Mizuho Securities USA LLC lifted its stake in Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company's stock valued at $79,484,000 after buying an additional 922,892 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Company Profile

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.