92 Resources Reaffirms “Maintains” Rating for Carrier Global (NYSE:CARR)

Posted by Defense World Staff on May 4th, 2023

92 Resources reaffirmed their maintains rating on shares of Carrier Global (NYSE:CARR – Get Rating) in a report published on Monday, Benzinga reports.

Several other equities analysts have also weighed in on the company. Barclays cut their price target on Carrier Global from $50.00 to $48.00 in a research note on Friday, April 28th. Oppenheimer started coverage on shares of Carrier Global in a research note on Monday, March 27th. They issued an outperform rating and a $51.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $47.00 to $46.00 and set an equal weight rating for the company in a research report on Thursday, April 13th. Argus lifted their target price on shares of Carrier Global from $50.00 to $52.00 in a research report on Tuesday, February 14th. Finally, Stephens restated an overweight rating and set a $55.00 price target on shares of Carrier Global in a research report on Wednesday, February 8th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Carrier Global presently has an average rating of Moderate Buy and an average price target of $49.07.

Carrier Global Stock Down 1.7 %

Shares of CARR opened at $41.09 on Monday. The company has a market capitalization of $34.30 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.75 and a beta of 1.32. Carrier Global has a 52 week low of $33.10 and a 52 week high of $49.17. The stock’s 50-day moving average price is $44.26 and its 200-day moving average price is $43.20. The company has a quick ratio of 1.20, a current ratio of 1.70 and a debt-to-equity ratio of 1.03.

Carrier Global (NYSE:CARR – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Carrier Global had a net margin of 12.02% and a return on equity of 25.56%. The business had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the company earned $0.54 EPS. The business’s revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts predict that Carrier Global will post 2.58 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Friday, May 5th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, May 4th. Carrier Global’s dividend payout ratio (DPR) is currently 25.00%.

Insider Buying and Selling at Carrier Global

In related news, VP Kyle Crockett sold 10,433 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $45.85, for a total transaction of $478,353.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Carrier Global news, VP Nadia Villeneuve sold 20,538 shares of Carrier Global stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $45.45, for a total value of $933,452.10. Following the sale, the vice president now owns 48,900 shares in the company, valued at $2,222,505. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kyle Crockett sold 10,433 shares of the company’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $45.85, for a total value of $478,353.05. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Institutional Trading of Carrier Global

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Concord Wealth Partners purchased a new stake in shares of Carrier Global in the 4th quarter valued at approximately $34,000. California Public Employees Retirement System raised its holdings in shares of Carrier Global by 20.2% in the 3rd quarter. California Public Employees Retirement System now owns 1,910,832 shares of the company’s stock valued at $67,949,000 after buying an additional 321,273 shares during the period. Armstrong Advisory Group Inc. purchased a new position in Carrier Global during the 4th quarter valued at about $37,000. Gratus Capital LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth about $207,000. Finally, MADDEN SECURITIES Corp acquired a new position in shares of Carrier Global in the fourth quarter valued at approximately $65,000. 85.21% of the stock is currently owned by hedge funds and other institutional investors.

About Carrier Global

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Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.