Carrier Global (NYSE:CARR) Now Covered by Wells Fargo & Company

Investment analysts at Wells Fargo & Company began coverage on shares of Carrier Global (NYSE:CARR) in a research note issued on Thursday, MarketBeat.com reports. The firm set an “overweight” rating on the stock.

A number of other research firms have also issued reports on CARR. Weiss Ratings restated a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Citigroup raised their target price on Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Zacks Research raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Sanford C. Bernstein restated a “market perform” rating and set a $78.00 price target on shares of Carrier Global in a research report on Thursday, July 30th. Finally, Morgan Stanley increased their price objective on shares of Carrier Global from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.38.

Carrier Global Stock Performance

NYSE:CARR opened at $56.31 on Thursday. The firm has a 50-day moving average of $60.58 and a two-hundred day moving average of $63.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The stock has a market cap of $46.42 billion, a P/E ratio of 39.10, a PEG ratio of 2.17 and a beta of 1.30. Carrier Global has a 1-year low of $50.24 and a 1-year high of $76.76.

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

Hedge Funds Weigh In On Carrier Global

A number of hedge funds have recently modified their holdings of CARR. Van Hulzen Asset Management LLC bought a new position in shares of Carrier Global in the second quarter worth about $1,992,000. Cardinal Capital Management Inc. boosted its holdings in Carrier Global by 7.1% in the 2nd quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company’s stock valued at $42,201,000 after purchasing an additional 37,934 shares during the period. Avity Investment Management Inc. grew its position in Carrier Global by 33.9% in the 2nd quarter. Avity Investment Management Inc. now owns 194,484 shares of the company’s stock worth $14,265,000 after purchasing an additional 49,260 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Carrier Global by 1.5% during the 1st quarter. California Public Employees Retirement System now owns 1,430,425 shares of the company’s stock worth $80,547,000 after purchasing an additional 21,367 shares during the period. Finally, Allworth Financial LP bought a new position in shares of Carrier Global during the 2nd quarter worth about $13,074,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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 and related controls, building automation technologies, and services designed to improve indoor comfort, energy efficiency and building performance.

Carrier also provides refrigeration equipment and systems for commercial, industrial and transportation applications, supporting food preservation and cold-chain operations.