Carrier Global (NYSE:CARR) Upgraded to “Outperform” at Mizuho

Mizuho upgraded shares of Carrier Global (NYSE:CARR) from a neutral rating to an outperform rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. Mizuho currently has $78.00 price target on the stock.

A number of other brokerages also recently issued reports on CARR. Stephens cut their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. The Goldman Sachs Group began coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Finally, Royal Bank of Canada cut their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Carrier Global Stock Up 2.4 %

CARR stock opened at $65.19 on Friday. Carrier Global has a one year low of $53.13 and a one year high of $83.32. The stock has a market capitalization of $58.49 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a fifty day moving average of $68.34 and a 200-day moving average of $72.28.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, analysts expect that Carrier Global will post 2.52 EPS for the current year.

Carrier Global announced that its board has initiated a stock buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a $0.225 dividend. The ex-dividend date was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Institutional Investors Weigh In On Carrier Global

Hedge funds have recently modified their holdings of the stock. BOK Financial Private Wealth Inc. boosted its position in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after acquiring an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its position in Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. FSA Wealth Management LLC acquired a new position in Carrier Global during the third quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Carrier Global during the fourth quarter valued at approximately $31,000. Finally, Meeder Asset Management Inc. lifted its position in Carrier Global by 236.1% during the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock valued at $33,000 after buying an additional 340 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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.