JPMorgan Chase & Co. Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR - Free Report) had its price objective cut by JPMorgan Chase & Co. from $83.00 to $77.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on CARR. Robert W. Baird dropped their target price on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Northcoast Research assumed coverage on shares of Carrier Global in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Wells Fargo & Company lowered their price target on shares of Carrier Global from $80.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Oppenheimer increased their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Stephens lowered their target price on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and an average price target of $83.93.

Carrier Global Stock Up 0.8 %

NYSE CARR traded up $0.53 on Wednesday, reaching $68.93. The company had a trading volume of 3,749,793 shares, compared to its average volume of 4,155,443. The company's fifty day moving average is $72.34 and its 200-day moving average is $72.17. Carrier Global has a 1-year low of $53.13 and a 1-year high of $83.32. The firm has a market capitalization of $61.85 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36. 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 announced that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.31%. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio is 22.78%.

Hedge Funds Weigh In On Carrier Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock worth $35,000 after buying an additional 310 shares in the last quarter. Coastline Trust Co bought a new stake in shares of Carrier Global in the third quarter valued at about $37,000. Country Trust Bank acquired a new position in shares of Carrier Global in the third quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new position in Carrier Global during the third quarter worth about $44,000. 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.