Sanford C. Bernstein Cuts Carrier Global (NYSE:CARR) Price Target to $64.00

Carrier Global (NYSE:CARR) had its price objective dropped by research analysts at Sanford C. Bernstein from $78.00 to $64.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price target points to a potential upside of 14.11% from the stock’s current price.

Several other equities analysts have also commented on CARR. Wells Fargo & Company started coverage on shares of Carrier Global in a research report on Thursday, September 24th. They set an “overweight” rating and a $67.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carrier Global in a report on Monday, July 20th. Wolfe Research reiterated an “outperform” rating and set a $80.00 price objective on shares of Carrier Global in a research report on Thursday, July 9th. Finally, Zacks Research cut Carrier Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Twelve analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.27.

Carrier Global Stock Up 0.6%

Shares of Carrier Global stock opened at $56.09 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. The business’s 50 day simple moving average is $58.89 and its 200-day simple moving average is $62.96. The stock has a market capitalization of $46.23 billion, a price-to-earnings ratio of 38.95, a PEG ratio of 1.90 and a beta of 1.29. Carrier Global has a twelve month low of $50.24 and a twelve month high of $76.76.

Carrier Global (NYSE:CARR) last released 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. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The business’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 firm posted $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Equities research analysts forecast that Carrier Global will post 2.87 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nautilus Advisors LLC increased its stake in shares of Carrier Global by 7.3% during the third quarter. Nautilus Advisors LLC now owns 9,124 shares of the company’s stock valued at $501,000 after acquiring an additional 618 shares during the period. Moody National Bank Trust Division increased its position in shares of Carrier Global by 265.7% during the 3rd quarter. Moody National Bank Trust Division now owns 27,058 shares of the company’s stock valued at $1,484,000 after purchasing an additional 19,659 shares during the period. Ridgewood Investments LLC increased its position in shares of Carrier Global by 9.2% during the 3rd quarter. Ridgewood Investments LLC now owns 26,276 shares of the company’s stock valued at $1,442,000 after purchasing an additional 2,213 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in shares of Carrier Global by 9.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 71,635 shares of the company’s stock worth $3,930,000 after buying an additional 6,160 shares in the last quarter. Finally, Eastern Bank lifted its holdings in shares of Carrier Global by 1.5% in the third quarter. Eastern Bank now owns 15,861 shares of the company’s stock valued at $870,000 after buying an additional 230 shares during the period. 91.00% of the stock is currently owned by institutional investors.

About Carrier Global

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.