Carrier Global (NYSE:CARR) Given New $92.00 Price Target at Barclays

Carrier Global (NYSE:CARR) had its price target boosted by Barclays from $89.00 to $92.00 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

CARR has been the subject of several other reports. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. 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 report on Friday, October 25th. Robert W. Baird cut their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Morgan Stanley assumed coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.54.

Carrier Global Price Performance

CARR stock opened at $73.99 on Thursday. The firm has a 50 day moving average of $77.35 and a 200-day moving average of $70.95. Carrier Global has a 12-month low of $52.54 and a 12-month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market cap of $66.39 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 2.80 and a beta of 1.33.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global declared that its Board of Directors has approved a stock repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frank Rimerman Advisors LLC boosted its position in shares of Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after acquiring an additional 13,677 shares in the last quarter. Kintegral Advisory LLC increased its stake in Carrier Global by 44.2% in the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after purchasing an additional 8,705 shares in the last quarter. Foster Victor Wealth Advisors LLC bought a new stake in Carrier Global in the second quarter valued at approximately $7,720,000. Vista Investment Partners LLC acquired a new position in shares of Carrier Global in the second quarter valued at approximately $744,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Carrier Global by 12.3% in the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after buying an additional 11,032 shares during the period. Institutional investors 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.