Carrier Global (NYSE:CARR) Stock Rating Upgraded by Sanford C. Bernstein

Carrier Global (NYSE:CARR) was upgraded by investment analysts at Sanford C. Bernstein to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. Weiss Ratings raised shares of Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Rothschild & Co Redburn upped their target price on shares of Carrier Global from $61.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. BNP Paribas Exane started coverage on shares of Carrier Global in a report on Tuesday, April 14th. They set a “neutral” rating and a $62.00 target price for the company. Finally, Evercore upped their target price on shares of Carrier Global from $75.00 to $85.00 in a report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.09.

Carrier Global Stock Down 4.5%

NYSE CARR opened at $68.05 on Tuesday. The business has a fifty day moving average price of $63.17 and a 200 day moving average price of $59.44. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.05. The company has a market cap of $56.52 billion, a P/E ratio of 44.77, a P/E/G ratio of 2.86 and a beta of 1.34. Carrier Global has a one year low of $50.24 and a one year high of $81.09.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Research analysts anticipate that Carrier Global will post 2.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its stake in Carrier Global by 5.2% during the first quarter. Parallel Advisors LLC now owns 15,363 shares of the company’s stock worth $865,000 after purchasing an additional 763 shares during the last quarter. Summitry LLC lifted its stake in Carrier Global by 43.3% in the first quarter. Summitry LLC now owns 1,419,812 shares of the company’s stock valued at $79,950,000 after buying an additional 429,060 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in Carrier Global in the first quarter valued at approximately $349,000. Arete Wealth Advisors LLC increased its holdings in shares of Carrier Global by 2.1% in the first quarter. Arete Wealth Advisors LLC now owns 42,021 shares of the company’s stock valued at $2,366,000 after purchasing an additional 869 shares during the period. Finally, FinArc Investments Inc. acquired a new position in shares of Carrier Global in the first quarter valued at approximately $2,129,000. Hedge funds and other institutional investors 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.