Carrier Global (NYSE:CARR) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Carrier Global (NYSE:CARR - Free Report) from a neutral rating to a buy rating in a report issued on Wednesday morning, Marketbeat reports. They currently have $94.00 target price on the stock.

CARR has been the topic of several other research reports. Royal Bank of Canada decreased their target price on Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Bank of America increased their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Stephens dropped their price target on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research note on Thursday, October 10th. They issued a "neutral" rating and a $83.00 price objective on the stock. Finally, Barclays decreased their target price on Carrier Global from $90.00 to $89.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $82.31.

Carrier Global Trading Up 1.3 %

NYSE:CARR traded up $0.96 on Wednesday, reaching $76.40. The company's stock had a trading volume of 7,806,351 shares, compared to its average volume of 4,168,991. The firm has a market cap of $68.55 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 2.71 and a beta of 1.34. 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 12-month low of $51.20 and a 12-month high of $83.32. The stock has a 50 day moving average price of $77.36 and a 200 day moving average price of $69.61.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. Carrier Global's payout ratio is currently 19.24%.

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

Hedge Funds Weigh In On Carrier Global

Several large investors have recently bought and sold shares of the stock. Olistico Wealth LLC purchased a new position in Carrier Global during the 2nd quarter worth $25,000. Meeder Asset Management Inc. grew its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after buying an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global in the 2nd quarter valued at about $32,000. Hantz Financial Services Inc. purchased a new stake in Carrier Global during the 2nd quarter valued at approximately $35,000. Finally, McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after purchasing an additional 310 shares during 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.