Carrier Global Corporation (NYSE:CARR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Carrier Global Corporation (NYSE:CARR) have been assigned a consensus rating of “Moderate Buy” from the twenty-two research firms that are currently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $73.6726.

CARR has been the subject of a number of recent analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $78.00 price target on shares of Carrier Global in a research note on Thursday, July 30th. Zacks Research raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Wolfe Research reissued an “outperform” rating and issued a $80.00 price objective on shares of Carrier Global in a research note on Thursday, July 9th. Citigroup boosted their target price on Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. upped their target price on Carrier Global from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th.

Carrier Global Stock Down 0.1%

Shares of NYSE:CARR opened at $58.73 on Wednesday. The company has a market cap of $48.41 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 2.18 and a beta of 1.31. Carrier Global has a 12 month low of $50.24 and a 12 month high of $76.76. The company has a 50-day moving average price of $66.15 and a 200 day moving average price of $63.97. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities research analysts predict that Carrier Global will post 2.87 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, July 21st. Carrier Global’s dividend payout ratio is 66.67%.

Institutional Trading of Carrier Global

Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in Carrier Global by 6,864.2% during the 2nd quarter. California State Teachers Retirement System now owns 81,575,322 shares of the company’s stock valued at $5,983,550,000 after buying an additional 80,403,966 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Carrier Global in the 2nd quarter worth about $590,759,000. Bank of America Corp DE purchased a new position in shares of Carrier Global during the second quarter worth approximately $572,908,000. Norges Bank purchased a new position in shares of Carrier Global during the fourth quarter worth approximately $380,299,000. Finally, Legal & General Group Plc bought a new stake in shares of Carrier Global during the second quarter valued at approximately $322,366,000. 91.00% of the stock is currently owned by institutional investors.

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.