Carrier Global (NYSE:CARR) Upgraded by JPMorgan Chase & Co. to “Overweight” Rating

JPMorgan Chase & Co. upgraded shares of Carrier Global (NYSE:CARR) from a neutral rating to an overweight rating in a report published on Wednesday, MarketBeat reports. JPMorgan Chase & Co. currently has $78.00 price target on the stock, up from their prior price target of $77.00.

Several other analysts also recently weighed in on the company. Royal Bank of Canada decreased their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Northcoast Research initiated coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Finally, Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price for the company in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $82.53.

Carrier Global Stock Up 4.5 %

Shares of CARR opened at $64.86 on Wednesday. The company has a market cap of $56.03 billion, a PE ratio of 10.33, a P/E/G ratio of 2.01 and a beta of 1.35. The business has a fifty day moving average of $66.80 and a 200 day moving average of $72.30. Carrier Global has a 52-week low of $53.33 and a 52-week high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, sell-side analysts expect that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 14.33%.

Institutional Investors Weigh In On Carrier Global

Large investors have recently modified their holdings of the business. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global during the third quarter worth about $28,000. BOK Financial Private Wealth Inc. lifted its holdings in shares of Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after purchasing an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after purchasing an additional 180 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth about $28,000. Finally, Coastline Trust Co acquired a new stake in shares of Carrier Global during the third quarter worth about $37,000. Hedge funds and other 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.