Carrier Global (NYSE:CARR) Given New $87.00 Price Target at Royal Bank of Canada

Carrier Global (NYSE:CARR) had its price objective boosted by Royal Bank of Canada from $86.00 to $87.00 in a report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

CARR has been the subject of several other research reports. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Monday, February 24th. Barclays boosted their price objective on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Friday, May 9th. Mizuho set a $72.00 price target on Carrier Global in a report on Tuesday, April 22nd. Finally, Citigroup cut their price target on Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Carrier Global Price Performance

NYSE CARR opened at $74.87 on Tuesday. Carrier Global has a twelve month low of $54.22 and a twelve month high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The stock has a market capitalization of $64.19 billion, a PE ratio of 11.92, a P/E/G ratio of 2.01 and a beta of 1.33. The stock has a 50-day simple moving average of $64.95 and a 200 day simple moving average of $67.98.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. Research analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.20%. Carrier Global’s payout ratio is presently 13.93%.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently modified their holdings of the stock. BOK Financial Private Wealth Inc. raised its holdings in shares of Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after buying an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position in Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after acquiring an additional 180 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Carrier Global during the 4th quarter worth approximately $28,000. Accredited Wealth Management LLC bought a new stake in Carrier Global during the 1st quarter worth approximately $28,000. Finally, Mattson Financial Services LLC bought a new stake in Carrier Global during the 4th quarter worth approximately $31,000. 91.00% of the stock is owned by institutional investors and hedge funds.

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.