Carrier Global (NYSE:CARR) Price Target Cut to $69.78 by Analysts at CICC Research

Carrier Global (NYSE:CARR) had its price objective cut by stock analysts at CICC Research from $76.85 to $69.78 in a research note issued on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. CICC Research’s price target points to a potential upside of 2.50% from the stock’s previous close.

CARR has been the topic of a number of other research reports. Zacks Research downgraded shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Monday. Royal Bank Of Canada increased their price objective on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. UBS Group reduced their price objective on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Argus upped their target price on Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.60.

Carrier Global Trading Up 1.5%

CARR opened at $68.08 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average is $56.15 and its two-hundred day moving average is $59.03. The company has a market capitalization of $56.90 billion, a P/E ratio of 39.82, a PEG ratio of 2.64 and a beta of 1.33. Carrier Global has a 52 week low of $50.24 and a 52 week high of $81.09.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.Carrier Global’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Analysts forecast that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global announced that its board has authorized a share buyback 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Carrier Global

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after purchasing an additional 1,850 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Carrier Global by 51.5% in the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock worth $4,236,000 after buying an additional 23,200 shares during the last quarter. CWM LLC lifted its stake in shares of Carrier Global by 3.0% during the second quarter. CWM LLC now owns 61,899 shares of the company’s stock worth $4,530,000 after buying an additional 1,777 shares during the period. MGO One Seven LLC purchased a new stake in shares of Carrier Global during the second quarter valued at $200,000. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Carrier Global by 6.5% during the second quarter. Sequoia Financial Advisors LLC now owns 19,467 shares of the company’s stock valued at $1,425,000 after buying an additional 1,182 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.