Brokerages Set Carrier Global Corporation (NYSE:CARR) Price Target at $70.56

Carrier Global Corporation (NYSE:CARR) has been assigned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $70.6471.

Several equities research analysts have commented on CARR shares. Wells Fargo & Company boosted their price target on shares of Carrier Global from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday. Barclays decreased their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. The Goldman Sachs Group upped their price objective on Carrier Global from $68.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. Finally, Mizuho dropped their price target on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th.

Carrier Global Stock Up 2.2%

CARR stock opened at $65.34 on Friday. The business has a 50-day moving average of $55.66 and a 200-day moving average of $59.08. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $81.09. The stock has a market capitalization of $54.61 billion, a P/E ratio of 38.21, a P/E/G ratio of 2.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.The company’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, sell-side analysts anticipate that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Tuesday, January 20th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, January 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s payout ratio is 56.14%.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AdvisorShares Investments LLC bought a new position in Carrier Global in the second quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp bought a new position in Carrier Global in the 3rd quarter valued at approximately $25,000. YANKCOM Partnership grew its holdings in Carrier Global by 78.5% during the 4th quarter. YANKCOM Partnership now owns 473 shares of the company’s stock worth $25,000 after acquiring an additional 208 shares during the last quarter. Torren Management LLC bought a new position in shares of Carrier Global during the fourth quarter valued at $25,000. Finally, Winnow Wealth LLC bought a new stake in shares of Carrier Global in the second quarter worth $26,000. 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.