Carrier Global (NYSE:CARR) Stock Price Down 9.4% – Here’s Why

Carrier Global Corporation (NYSE:CARR) shares traded down 9.4% during mid-day trading on Tuesday . The company traded as low as $62.63 and last traded at $62.8260. Approximately 10,436,886 shares were traded during mid-day trading, an increase of 51% from the average session volume of 6,908,430 shares. The stock had previously closed at $69.33.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CARR shares. Barclays lifted their target price on Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $78.00 price target on shares of Carrier Global in a report on Thursday. Morgan Stanley lifted their price objective on shares of Carrier Global from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. The Goldman Sachs Group upped their price objective on shares of Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. Finally, Royal Bank Of Canada increased their price objective on shares of Carrier Global from $71.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $73.67.

Carrier Global Trading Up 2.4%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.02. The business has a fifty day simple moving average of $68.56 and a 200 day simple moving average of $63.45. The stock has a market capitalization of $50.97 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 2.52 and a beta of 1.31.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the company posted $0.92 earnings per share. Carrier Global’s revenue was up 3.9% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, research analysts expect that Carrier Global Corporation will post 2.8 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st will be given a $0.24 dividend. The ex-dividend date is Tuesday, July 21st. This represents a $0.96 annualized dividend and a dividend yield of 1.6%. Carrier Global’s payout ratio is presently 63.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CARR. YANKCOM Partnership lifted its stake in Carrier Global by 78.5% in the 4th quarter. YANKCOM Partnership now owns 473 shares of the company’s stock valued at $25,000 after purchasing an additional 208 shares during the last quarter. Torren Management LLC acquired a new position in shares of Carrier Global during the fourth quarter worth $25,000. Financial Management Professionals Inc. lifted its stake in shares of Carrier Global by 142.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock valued at $28,000 after acquiring an additional 225 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Carrier Global in the 4th quarter valued at $33,000. Finally, Signature Equity Partners LLC boosted its holdings in shares of Carrier Global by 449.2% during the 1st quarter. Signature Equity Partners LLC now owns 648 shares of the company’s stock valued at $36,000 after acquiring an additional 530 shares in 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.