Carrier Global (NYSE:CARR) Upgraded to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Carrier Global (NYSE:CARR) to a strong-buy rating in a research report report published on Thursday morning,Zacks reports.

A number of other research analysts have also recently commented on CARR. Morgan Stanley upped their target price on Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Citigroup boosted their price objective on Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $78.00 price objective on shares of Carrier Global in a research report on Thursday, July 30th. Wolfe Research reiterated an “outperform” rating and issued a $80.00 target price on shares of Carrier Global in a research note on Thursday, July 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average price target of $73.38.

Carrier Global Price Performance

CARR stock opened at $56.31 on Thursday. Carrier Global has a 12 month low of $50.24 and a 12 month high of $76.76. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $60.58 and a 200 day moving average price of $63.01. The stock has a market cap of $46.42 billion, a PE ratio of 39.10, a P/E/G ratio of 2.11 and a beta of 1.30.

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

Institutional Trading of Carrier Global

A number of large investors have recently modified their holdings of CARR. Johnson Financial Group Inc. purchased a new position in Carrier Global during the 2nd quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Carrier Global in the 2nd quarter worth $26,000. Financial Management Professionals Inc. grew its position in shares of Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after buying an additional 225 shares in the last quarter. Signature Equity Partners LLC grew its position 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 worth $36,000 after buying an additional 530 shares in the last quarter. Finally, Burnham & Co LLC purchased a new position in shares of Carrier Global during the second quarter valued at $37,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.