Carrier Global (NYSE:CARR) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Carrier Global (NYSE:CARR) from a hold rating to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Several other research analysts have also issued reports on CARR. Argus raised their price target on Carrier Global from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Wolfe Research reissued an “outperform” rating and issued a $80.00 target price on shares of Carrier Global in a research note on Thursday, July 9th. Citigroup raised their target price on Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Weiss Ratings restated a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $78.00 price target on shares of Carrier Global in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.67.

Carrier Global Trading Up 0.9%

CARR opened at $61.95 on Thursday. The firm has a 50 day simple moving average of $68.51 and a 200 day simple moving average of $63.48. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The company has a market cap of $51.07 billion, a price-to-earnings ratio of 43.02, a price-to-earnings-growth ratio of 2.38 and a beta of 1.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.75.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, sell-side analysts anticipate that Carrier Global will post 2.88 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, July 21st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, July 21st. Carrier Global’s payout ratio is currently 66.67%.

Institutional Trading of Carrier Global

Several hedge funds and other institutional investors have recently modified their holdings of CARR. Whitener Capital Management Inc. acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $222,000. Cardinal Capital Management Inc. grew its stake in Carrier Global by 7.1% in the 2nd quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company’s stock valued at $42,201,000 after buying an additional 37,934 shares during the last quarter. Tema ETFs LLC increased its stake in shares of Carrier Global by 10.0% during the second quarter. Tema ETFs LLC now owns 17,567 shares of the company’s stock worth $1,289,000 after purchasing an additional 1,595 shares during the period. Clarus Wealth Advisors lifted its holdings in shares of Carrier Global by 3.7% during the second quarter. Clarus Wealth Advisors now owns 27,744 shares of the company’s stock worth $1,852,000 after buying an additional 978 shares in the last quarter. Finally, Generali Investments Management Co LLC grew its stake in shares of Carrier Global by 321.2% in the second quarter. Generali Investments Management Co LLC now owns 10,449 shares of the company’s stock valued at $766,000 after acquiring an additional 7,968 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.