Carrier Global (NYSE:CARR) Price Target Increased to $90.00 by Analysts at Bank of America

Carrier Global (NYSE:CARR - Free Report) had its price target raised by Bank of America from $80.00 to $90.00 in a report published on Friday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a "neutral" rating and a $83.00 target price for the company. Robert W. Baird reduced their price objective on Carrier Global from $75.00 to $74.00 and set an "outperform" rating for the company in a research note on Friday, July 26th. Citigroup raised Carrier Global from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Royal Bank of Canada increased their price target on Carrier Global from $72.00 to $79.00 and gave the company an "outperform" rating in a research report on Thursday, September 5th. Finally, Stephens downgraded Carrier Global from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $75.00 to $85.00 in a report on Wednesday. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $80.67.

Carrier Global Stock Performance

Shares of CARR traded up $0.11 during trading hours on Friday, reaching $81.55. 2,213,749 shares of the company's stock traded hands, compared to its average volume of 4,130,647. The firm has a market capitalization of $73.48 billion, a price-to-earnings ratio of 56.92, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. Carrier Global has a twelve month low of $45.68 and a twelve month high of $83.32. The business's fifty day simple moving average is $74.97 and its two-hundred day simple moving average is $66.98.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the company earned $0.79 earnings per share. The company's quarterly revenue was up 11.7% compared to the same quarter last year. Analysts predict that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global's dividend payout ratio (DPR) is currently 53.15%.

Insider Buying and Selling at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company's stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.95% of the company's stock.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently modified their holdings of CARR. Olistico Wealth LLC bought a new position in Carrier Global in the 2nd quarter worth $25,000. Meeder Asset Management Inc. raised its holdings in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after acquiring an additional 405 shares during the period. EdgeRock Capital LLC bought a new position in Carrier Global in the 2nd quarter worth $32,000. Register Financial Advisors LLC bought a new position in Carrier Global in the 1st quarter worth $34,000. Finally, Hantz Financial Services Inc. bought a new position in shares of Carrier Global during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 91.00% of the company's stock.

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.