Carrier Global (NYSE:CARR) Price Target Lowered to $64.00 at JPMorgan Chase & Co.

Carrier Global (NYSE:CARR) had its target price lowered by JPMorgan Chase & Co. from $78.00 to $64.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also weighed in on CARR. The Goldman Sachs Group began coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Friday, February 14th. Wells Fargo & Company cut their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, February 24th. Finally, Royal Bank of Canada cut their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Carrier Global Trading Down 2.4 %

Shares of Carrier Global stock opened at $55.46 on Tuesday. Carrier Global has a 12-month low of $53.33 and a 12-month 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. The firm’s 50-day moving average price is $64.63 and its two-hundred day moving average price is $70.81. The company has a market capitalization of $47.92 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company earned $0.53 earnings per share. On average, analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morse Asset Management Inc purchased a new position in Carrier Global in the 3rd quarter valued at approximately $201,000. Wellington Management Group LLP grew its position in shares of Carrier Global by 761.6% in the third quarter. Wellington Management Group LLP now owns 45,064 shares of the company’s stock valued at $3,627,000 after purchasing an additional 39,834 shares in the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Carrier Global by 103.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,247 shares of the company’s stock valued at $2,918,000 after purchasing an additional 18,474 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of Carrier Global by 48.8% during the third quarter. EP Wealth Advisors LLC now owns 21,708 shares of the company’s stock valued at $1,747,000 after buying an additional 7,119 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Carrier Global by 7.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 238,988 shares of the company’s stock worth $19,236,000 after acquiring an additional 15,609 shares during the period. 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.