Carrier Global Corporation (NYSE:CARR) Receives $71.06 Consensus Target Price from Brokerages

Carrier Global Corporation (NYSE:CARR) has been given an average recommendation of “Moderate Buy” by the twenty ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $71.00.

Several research firms have commented on CARR. The Goldman Sachs Group lowered their target price on shares of Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. Rothschild & Co Redburn upped their price target on Carrier Global from $66.00 to $67.00 in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC grew its holdings in shares of Carrier Global by 2.5% in the 4th quarter. Perigon Wealth Management LLC now owns 34,093 shares of the company’s stock valued at $1,801,000 after buying an additional 839 shares during the period. Blue Trust Inc. lifted its holdings in Carrier Global by 85.1% during the 4th quarter. Blue Trust Inc. now owns 6,326 shares of the company’s stock valued at $334,000 after purchasing an additional 2,909 shares during the last quarter. PineStone Asset Management Inc. boosted its position in shares of Carrier Global by 34.6% in the fourth quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company’s stock valued at $377,987,000 after acquiring an additional 1,837,985 shares during the period. Nisa Investment Advisors LLC raised its holdings in Carrier Global by 11.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 265,947 shares of the company’s stock valued at $14,053,000 after acquiring an additional 28,212 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Carrier Global by 3.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 35,928 shares of the company’s stock valued at $1,923,000 after buying an additional 1,324 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 1.2%

NYSE:CARR opened at $56.20 on Tuesday. The stock has a market cap of $47.33 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.17 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. The stock’s 50-day moving average is $53.82 and its two-hundred day moving average is $61.07. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $81.09.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities research analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global declared that its board has authorized a stock repurchase program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be given a $0.24 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. This represents a $0.96 annualized dividend and a yield of 1.7%. Carrier Global’s dividend payout ratio is presently 21.48%.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.