Rothschild & Co Redburn Cuts Carrier Global (NYSE:CARR) Price Target to $61.00

Carrier Global (NYSE:CARR) had its target price trimmed by Rothschild & Co Redburn from $67.00 to $61.00 in a research report sent to investors on Wednesday,MarketScreener reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. Morgan Stanley set a $55.00 price objective on Carrier Global in a research note on Thursday, January 8th. Citigroup lowered their target price on Carrier Global from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. The Goldman Sachs Group reduced their price target on Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. upped their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $69.44.

Carrier Global Stock Down 0.2%

Carrier Global stock opened at $57.32 on Wednesday. The business’s 50-day simple moving average is $53.92 and its two-hundred day simple moving average is $60.53. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The company has a market cap of $48.27 billion, a PE ratio of 12.82, a PEG ratio of 2.31 and a beta of 1.31. 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 earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. This is an increase 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 (DPR) is presently 21.48%.

Carrier Global announced that its Board of Directors has approved a stock buyback program on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Carrier Global

Large investors have recently modified their holdings of the business. Brighton Jones LLC grew its stake in Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after acquiring an additional 1,850 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Carrier Global by 51.5% in the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock valued at $4,236,000 after purchasing an additional 23,200 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Carrier Global by 13.2% in the second quarter. Farther Finance Advisors LLC now owns 10,943 shares of the company’s stock valued at $801,000 after purchasing an additional 1,279 shares during the last quarter. Opal Wealth Advisors LLC lifted its position in Carrier Global by 37.4% during the second quarter. Opal Wealth Advisors LLC now owns 2,761 shares of the company’s stock worth $202,000 after buying an additional 752 shares in the last quarter. Finally, Maseco LLP acquired a new position in Carrier Global during the second quarter worth $62,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

About Carrier Global

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.