Carrier Global (NYSE:CARR) Given New $75.00 Price Target at Wells Fargo & Company

Carrier Global (NYSE:CARR - Free Report) had its price objective reduced by Wells Fargo & Company from $80.00 to $75.00 in a report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages have also recently commented on CARR. Northcoast Research started coverage on Carrier Global in a report on Friday, November 22nd. They issued a "neutral" rating for the company. UBS Group raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Mizuho boosted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and a consensus price target of $83.36.

Carrier Global Trading Down 0.8 %

Shares of NYSE:CARR traded down $0.54 during trading on Tuesday, reaching $68.17. The company's stock had a trading volume of 4,743,174 shares, compared to its average volume of 3,788,619. The firm's 50 day simple moving average is $73.00 and its two-hundred day simple moving average is $71.98. 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 12 month low of $53.13 and a 12 month high of $83.32. The stock has a market capitalization of $61.16 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders 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 is an increase from Carrier Global's previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. Carrier Global's dividend payout ratio is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a stock buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CARR. Private Advisor Group LLC boosted its position in Carrier Global by 1.6% in the 2nd quarter. Private Advisor Group LLC now owns 78,184 shares of the company's stock worth $4,932,000 after purchasing an additional 1,267 shares in the last quarter. Savant Capital LLC grew its position in shares of Carrier Global by 0.5% during the second quarter. Savant Capital LLC now owns 32,408 shares of the company's stock worth $2,044,000 after buying an additional 162 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Carrier Global in the second quarter valued at approximately $903,000. Caprock Group LLC grew its stake in shares of Carrier Global by 8.0% during the second quarter. Caprock Group LLC now owns 23,715 shares of the company's stock worth $1,500,000 after purchasing an additional 1,762 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in Carrier Global by 8.6% in the second quarter. Ballentine Partners LLC now owns 14,681 shares of the company's stock valued at $926,000 after buying an additional 1,157 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

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.