Carrier Global (NYSE:CARR) Receives New Coverage from Analysts at JPMorgan Chase & Co.

by · The Markets Daily

JPMorgan Chase & Co. assumed coverage on shares of Carrier Global (NYSE:CARR – Free Report) in a research note published on Thursday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $83.00 price target on the stock.

A number of other analysts have also issued reports on the company. Citigroup upgraded Carrier Global from a neutral rating to a buy rating and increased their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Royal Bank of Canada lifted their target price on Carrier Global from $72.00 to $79.00 and gave the company an outperform rating in a research note on Thursday, September 5th. Wells Fargo & Company increased their price target on shares of Carrier Global from $73.00 to $82.00 and gave the stock an equal weight rating in a research report on Monday, October 7th. Bank of America boosted their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the company a neutral rating in a research report on Friday, September 13th. Finally, Barclays lifted their target price on shares of Carrier Global from $81.00 to $90.00 and gave the company an overweight rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $79.50.

View Our Latest Analysis on Carrier Global

Carrier Global Stock Up 1.5 %

Shares of Carrier Global stock opened at $81.61 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global has a 12-month low of $45.68 and a 12-month high of $82.16. The firm has a market capitalization of $73.53 billion, a PE ratio of 57.07, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The stock’s fifty day moving average is $73.54 and its 200-day moving average is $66.44.

Carrier Global (NYSE:CARR – Get Free Report) last posted its quarterly earnings data 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 net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate 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 issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.93%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’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 value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter valued at about $25,000. Meeder Asset Management Inc. grew 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 valued at $29,000 after buying an additional 405 shares during the last quarter. Country Trust Bank bought a new position in Carrier Global in the 3rd quarter worth approximately $40,000. EdgeRock Capital LLC acquired a new position in shares of Carrier Global during the second quarter worth approximately $32,000. Finally, Hantz Financial Services Inc. bought a new stake in shares of Carrier Global in the second quarter valued at approximately $35,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Company Profile

(Get Free Report)

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.

Read More