Carrier Global (NYSE:CARR) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Carrier Global (NYSE:CARR) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks.com reports.

Several other brokerages have also recently weighed in on CARR. The Goldman Sachs Group lifted their price objective on shares of Carrier Global from $68.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Royal Bank Of Canada lifted their price target on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft cut their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Barclays lowered their price objective on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Finally, Citigroup upped their target price on Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Friday. Eleven 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.65.

Carrier Global Price Performance

Shares of NYSE CARR opened at $65.85 on Monday. The firm has a market cap of $55.04 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 2.69 and a beta of 1.33. The business’s 50 day moving average is $55.90 and its 200-day moving average is $58.97. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. Carrier Global has a 1-year low of $50.24 and a 1-year high of $81.09.

Carrier Global (NYSE:CARR) last issued 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 net margin of 6.82% and a return on equity of 15.30%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Equities research analysts predict that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.5%. Carrier Global’s payout ratio is presently 56.14%.

Carrier Global declared that its Board of Directors has approved a stock buyback program on Tuesday, October 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Carrier Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AdvisorShares Investments LLC bought a new stake in shares of Carrier Global during the second quarter worth $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Carrier Global during the 3rd quarter valued at $25,000. YANKCOM Partnership grew its position in Carrier Global by 78.5% during the 4th quarter. YANKCOM Partnership now owns 473 shares of the company’s stock worth $25,000 after acquiring an additional 208 shares during the last quarter. Torren Management LLC bought a new stake in Carrier Global during the 4th quarter worth $25,000. Finally, Winnow Wealth LLC acquired a new position in Carrier Global in the 2nd quarter worth about $26,000. 91.00% of the stock is owned by 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.