Carrier Global (NYSE:CARR) Price Target Cut to $68.00 by Analysts at The Goldman Sachs Group

Carrier Global (NYSE:CARR) had its price target decreased by The Goldman Sachs Group from $72.00 to $68.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 28.46% from the stock’s previous close.

CARR has been the topic of a number of other research reports. Royal Bank Of Canada dropped their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research report on Monday, December 8th. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Barclays cut their target price on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Finally, Robert W. Baird set a $72.00 price objective on Carrier Global in a research note on Wednesday, October 29th. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $72.00.

Carrier Global Price Performance

Carrier Global stock opened at $52.94 on Tuesday. The stock has a fifty day moving average of $55.76 and a 200-day moving average of $63.99. Carrier Global has a 52 week low of $50.30 and a 52 week high of $81.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The stock has a market capitalization of $44.58 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 2.30 and a beta of 1.30.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.Carrier Global’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, sell-side analysts expect that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global announced that its board has authorized a stock buyback plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors have recently modified their holdings of CARR. Costello Asset Management INC lifted its position in Carrier Global by 4.2% during the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock valued at $231,000 after purchasing an additional 127 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of Carrier Global by 1.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after acquiring an additional 150 shares during the last quarter. Penobscot Investment Management Company Inc. increased its stake in Carrier Global by 0.7% during the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after acquiring an additional 155 shares during the last quarter. Abacus Wealth Partners LLC raised its stake in shares of Carrier Global by 4.3% in the second quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock valued at $291,000 after acquiring an additional 165 shares during the period. Finally, Kingsview Wealth Management LLC boosted its holdings in Carrier Global by 1.0% during the 2nd quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock valued at $1,252,000 after acquiring an additional 165 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.