Carrier Global (NYSE:CARR) Given New $80.00 Price Target at Stephens

Carrier Global (NYSE:CARR - Free Report) had its price target decreased by Stephens from $85.00 to $80.00 in a research report sent to investors on Monday, Benzinga reports. Stephens currently has an equal weight rating on the stock.

Several other research firms also recently weighed in on CARR. Robert W. Baird decreased their price target on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday. Baird R W raised Carrier Global from a "hold" rating to a "strong-buy" rating in a report on Monday, July 15th. Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company cut their price objective on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an "equal weight" rating and a $75.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.33.

Carrier Global Stock Performance

CARR traded up $1.94 during mid-day trading on Monday, reaching $75.66. 4,666,792 shares of the company traded hands, compared to its average volume of 4,157,563. The stock has a market capitalization of $68.17 billion, a P/E ratio of 52.72, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global has a 52-week low of $46.77 and a 52-week high of $83.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The company's fifty day moving average price is $76.46 and its 200-day moving average price is $68.02.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (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 business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the previous year, the company posted $0.79 EPS. The business's quarterly revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Carrier Global will post 2.85 EPS for the current year.

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

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, October 25th. Carrier Global's dividend payout ratio (DPR) is presently 53.15%.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carrier Global

Large investors have recently added to or reduced their stakes in the stock. Boston Financial Mangement LLC boosted its holdings in shares of Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company's stock valued at $741,000 after purchasing an additional 150 shares during the period. Marathon Capital Management lifted its holdings in shares of Carrier Global by 4.1% in the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company's stock worth $247,000 after buying an additional 156 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Carrier Global by 1.3% during the third quarter. Arkadios Wealth Advisors now owns 12,199 shares of the company's stock valued at $982,000 after buying an additional 159 shares during the period. Savant Capital LLC raised its holdings in shares of Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company's stock valued at $2,044,000 after acquiring an additional 162 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in Carrier Global by 2.9% in the third quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company's stock worth $465,000 after acquiring an additional 163 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.