Morgan Stanley Trims Carrier Global (NYSE:CARR) Target Price to $58.00

Carrier Global (NYSE:CARR) had its target price trimmed by Morgan Stanley from $60.00 to $58.00 in a research report released on Friday morning, Analyst Ratings Network reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of Carrier Global from a buy rating to a hold rating and reduced their price target for the company from $58.00 to $56.00 in a research report on Thursday, December 9th. Wells Fargo & Company started coverage on shares of Carrier Global in a report on Thursday, October 7th. They issued an equal weight rating and a $51.00 price objective on the stock. Barclays upped their price objective on shares of Carrier Global from $62.00 to $65.00 and gave the stock an overweight rating in a report on Tuesday, January 4th. Zacks Investment Research cut shares of Carrier Global from a buy rating to a hold rating and set a $55.00 price objective on the stock. in a report on Tuesday, October 5th. Finally, Royal Bank of Canada cut their price objective on shares of Carrier Global from $61.00 to $59.00 and set an outperform rating on the stock in a report on Friday, October 29th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $56.06.

Shares of NYSE CARR opened at $51.10 on Friday. Carrier Global has a 1 year low of $34.21 and a 1 year high of $58.89. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.86 and a quick ratio of 1.54. The company’s 50-day moving average is $54.25 and its 200 day moving average is $53.71. The stock has a market capitalization of $44.28 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.87 and a beta of 0.91.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, October 28th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Carrier Global had a net margin of 11.08% and a return on equity of 27.46%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. Carrier Global’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that Carrier Global will post 2.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 10th. Investors of record on Thursday, December 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.17%. This is a boost from Carrier Global’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, December 22nd. Carrier Global’s dividend payout ratio (DPR) is presently 23.90%.

In related news, insider Jurgen Timperman sold 33,036 shares of the firm’s stock in a transaction on Friday, November 12th. The shares were sold at an average price of $56.05, for a total transaction of $1,851,667.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Large investors have recently modified their holdings of the business. HHM Wealth Advisors LLC grew its holdings in Carrier Global by 72.3% during the 3rd quarter. HHM Wealth Advisors LLC now owns 579 shares of the company’s stock valued at $30,000 after purchasing an additional 243 shares during the last quarter. Financial Insights Inc. bought a new position in Carrier Global during the 2nd quarter valued at about $28,000. Lumature Wealth Partners LLC grew its holdings in Carrier Global by 69.4% during the 3rd quarter. Lumature Wealth Partners LLC now owns 598 shares of the company’s stock valued at $31,000 after purchasing an additional 245 shares during the last quarter. Laffer Tengler Investments bought a new position in Carrier Global during the 3rd quarter valued at about $35,000. Finally, Osterweis Capital Management Inc. bought a new position in Carrier Global during the 3rd quarter valued at about $36,000. 84.55% 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 worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

See Also: What is the 52-week high/low?

Analyst Recommendations for Carrier Global (NYSE:CARR)

Receive News & Ratings for Carrier Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carrier Global and related companies with MarketBeat.com's FREE daily email newsletter.