Carrier Global (NYSE:CARR) Raised to Outperform at Mizuho

Mizuho upgraded shares of Carrier Global (NYSE:CARR - Free Report) from a neutral rating to an outperform rating in a report issued on Friday morning, Marketbeat reports. Mizuho currently has $78.00 target price on the stock.

A number of other research analysts have also issued reports on the stock. Stephens dropped their price target on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Northcoast Research initiated coverage on Carrier Global in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Carrier Global from $83.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. UBS Group raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their price target on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $82.64.

Carrier Global Stock Performance

CARR traded up $1.42 on Friday, hitting $66.55. 7,756,159 shares of the company traded hands, compared to its average volume of 5,963,728. The company has a 50 day moving average of $67.89 and a 200-day moving average of $72.34. 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 $59.71 billion, a PE ratio of 16.85, a PEG ratio of 2.11 and a beta of 1.35. 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 (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Sell-side analysts anticipate that Carrier Global will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. This is an increase from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.35%. Carrier Global's payout ratio is 22.78%.

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

Institutional Trading of Carrier Global

Several large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC grew its stake in Carrier Global by 69.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company's stock valued at $96,000 after purchasing an additional 487 shares in the last quarter. Creative Planning grew its position in shares of Carrier Global by 2.6% during the third quarter. Creative Planning now owns 465,226 shares of the company's stock worth $37,446,000 after buying an additional 11,655 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Carrier Global in the third quarter worth $263,000. Good Life Advisors LLC acquired a new stake in Carrier Global in the third quarter valued at $269,000. Finally, Bleakley Financial Group LLC raised its holdings in Carrier Global by 3.5% in the third quarter. Bleakley Financial Group LLC now owns 47,004 shares of the company's stock valued at $3,783,000 after acquiring an additional 1,577 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.