Carrier Global (NYSE:CARR) Research Coverage Started at Northcoast Research

Northcoast Research initiated coverage on shares of Carrier Global (NYSE:CARR) in a report released on Friday morning, MarketBeat.com reports. The brokerage issued a neutral rating on the stock.

Several other research firms have also commented on CARR. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Barclays decreased their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Morgan Stanley initiated coverage on 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. Finally, Oppenheimer boosted their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Trading Up 1.3 %

Shares of NYSE CARR opened at $77.00 on Friday. The stock has a market capitalization of $69.09 billion, a P/E ratio of 19.49, a PEG ratio of 2.73 and a beta of 1.34. Carrier Global has a 1-year low of $51.20 and a 1-year high of $83.32. The business’s 50 day moving average is $77.88 and its two-hundred day moving average is $70.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Announces Dividend

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 $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global declared that its board has initiated a share buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Carrier Global

Large investors have recently bought and sold shares of the business. PineStone Asset Management Inc. increased its position in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. FMR LLC grew its stake in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after buying an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Carrier Global during the 3rd quarter valued at about $130,479,000. Point72 Asset Management L.P. purchased a new stake in Carrier Global in the second quarter valued at about $58,415,000. Finally, Mizuho Securities USA LLC boosted its holdings in Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after acquiring an additional 922,892 shares in the last quarter. Institutional investors 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.