Brokerages Set Carrier Global Corporation (NYSE:CARR) Price Target at $71.06

Carrier Global Corporation (NYSE:CARR) has been given a consensus recommendation of “Moderate Buy” by the twenty analysts that are currently covering the firm, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $70.8235.

CARR has been the topic of a number of analyst reports. Morgan Stanley set a $55.00 target price on shares of Carrier Global in a research report on Thursday, January 8th. Citigroup cut their price target on Carrier Global from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Monday. Barclays lowered their price objective on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. The Goldman Sachs Group cut their target price 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, Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $55.61 on Tuesday. Carrier Global has a one year low of $50.24 and a one year high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. The firm has a market cap of $46.83 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 2.15 and a beta of 1.31. The stock’s fifty day moving average price is $53.85 and its two-hundred day moving average price is $61.28.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the business posted $0.83 earnings per share. Carrier Global’s quarterly revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, equities analysts forecast that Carrier Global will post 2.99 EPS for the current year.

Carrier Global declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $0.96 annualized dividend and a yield of 1.7%. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s payout ratio is 20.13%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Costello Asset Management INC increased its stake in shares of Carrier Global by 4.2% in the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock valued at $231,000 after purchasing an additional 127 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Carrier Global by 1.3% in the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after buying an additional 150 shares in the last quarter. Penobscot Investment Management Company Inc. grew its position in Carrier Global by 0.7% in the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock valued at $1,525,000 after acquiring an additional 155 shares during the last quarter. Abacus Wealth Partners LLC raised its stake in Carrier Global by 4.3% during the second quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock worth $291,000 after acquiring an additional 165 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Carrier Global by 1.0% in the second quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock worth $1,252,000 after acquiring an additional 165 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

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.