Carrier Global (NYSE:CARR) Price Target Raised to $74.00

Carrier Global (NYSE:CARR) had its price objective lifted by equities researchers at Wolfe Research from $71.00 to $74.00 in a research note issued on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the stock. Wolfe Research’s price target would suggest a potential upside of 16.47% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. CICC Research reduced their price target on Carrier Global from $76.85 to $69.78 and set an “outperform” rating for the company in a report on Wednesday, February 11th. The Goldman Sachs Group raised their target price on shares of Carrier Global from $68.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 6th. Robert W. Baird raised their price target on shares of Carrier Global from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. UBS Group cut their target price on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. upped their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $70.82.

Carrier Global Stock Up 1.2%

CARR stock traded up $0.78 during mid-day trading on Friday, hitting $63.54. 257,134 shares of the company were exchanged, compared to its average volume of 7,733,487. The firm has a market cap of $53.11 billion, a P/E ratio of 37.08, a P/E/G ratio of 2.47 and a beta of 1.33. Carrier Global has a 1-year low of $50.24 and a 1-year high of $81.09. The firm’s 50 day simple moving average is $58.53 and its 200 day simple moving average is $58.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.20.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, February 5th. The company reported $0.34 EPS 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 the consensus estimate of $5.05 billion. Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, sell-side analysts predict that Carrier Global will post 2.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Spirepoint Private Client LLC raised its position in shares of Carrier Global by 547.7% in the 3rd quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock valued at $3,623,000 after purchasing an additional 51,324 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in Carrier Global by 24.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after acquiring an additional 42,161 shares in the last quarter. Oak Thistle LLC bought a new position in Carrier Global during the 3rd quarter valued at $1,986,000. Deprince Race & Zollo Inc. acquired a new position in Carrier Global during the 3rd quarter worth $20,678,000. Finally, Brookstone Capital Management increased its position in shares of Carrier Global by 220.8% in the 3rd quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock worth $3,096,000 after purchasing an additional 35,691 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.