Carrier Global (NYSE:CARR) Price Target Lowered to $69.78 at CICC Research

Carrier Global (NYSE:CARR) had its target price trimmed by CICC Research from $76.85 to $69.78 in a report released on Wednesday morning,MarketScreener reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on CARR. UBS Group cut their price target on Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Robert W. Baird increased their target price on Carrier Global from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. raised their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Citigroup lifted their price objective on shares of Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada upped their target price 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. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.60.

Carrier Global Trading Down 0.6%

Shares of NYSE CARR traded down $0.38 during midday trading on Wednesday, hitting $66.70. The stock had a trading volume of 745,147 shares, compared to its average volume of 8,450,313. The firm has a market cap of $55.75 billion, a P/E ratio of 39.07, a price-to-earnings-growth ratio of 2.64 and a beta of 1.33. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $81.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85. The company’s 50-day simple moving average is $56.15 and its 200 day simple moving average is $59.03.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $4.84 billion during 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%.Carrier Global’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Research analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, January 20th. Carrier Global’s dividend payout ratio is presently 56.14%.

Carrier Global declared that its board has authorized a stock repurchase program on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Carrier Global

Several institutional investors have recently bought and sold shares of CARR. Vanguard Group Inc. raised its holdings in shares of Carrier Global by 0.5% in the second quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock valued at $6,833,980,000 after purchasing an additional 450,594 shares during the last quarter. Capital International Investors grew its position in Carrier Global by 6.7% in the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock valued at $3,461,142,000 after purchasing an additional 3,630,524 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after buying an additional 7,409,432 shares in the last quarter. State Street Corp boosted its stake in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,377,339 shares of the company’s stock worth $1,992,627,000 after buying an additional 473,692 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Carrier Global by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock worth $903,807,000 after buying an additional 90,585 shares during the last quarter. 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.