Carrier Global (NYSE:CARR) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Carrier Global (NYSE:CARR - Free Report) in a research report report published on Thursday. The firm issued a buy rating and a $96.00 price target on the stock.

CARR has been the topic of several other research reports. Royal Bank of Canada cut their price target on Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Wells Fargo & Company cut their target price on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a "neutral" rating and a $83.00 price target for the company. Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They set an "equal weight" rating and a $75.00 price objective on the stock. Finally, Mizuho lifted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.50.

Carrier Global Trading Down 0.2 %

Shares of CARR stock traded down $0.15 during trading hours on Thursday, hitting $73.55. 3,637,312 shares of the company were exchanged, compared to its average volume of 4,197,484. The company has a 50 day simple moving average of $76.80 and a two-hundred day simple moving average of $71.21. The firm has a market cap of $65.99 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.73 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global has a fifty-two week low of $53.13 and a fifty-two week high of $83.32.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.22%. This is a boost from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio (DPR) is currently 19.24%.

Carrier Global declared that its board has initiated a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Carrier Global

Several large investors have recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company's stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Carrier Global in the third quarter worth $130,479,000. Point72 Asset Management L.P. bought a new stake in shares of Carrier Global in the second quarter valued at $58,415,000. Mizuho Securities USA LLC lifted its position in shares of Carrier Global by 1,428.4% during the 3rd 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 during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company's stock worth $730,250,000 after acquiring an additional 897,061 shares during the period. 91.00% of the stock is 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.