Carrier Global (NYSE:CARR) Given New $63.00 Price Target at JPMorgan Chase & Co.

Carrier Global (NYSE:CARR) had its target price increased by JPMorgan Chase & Co. from $60.00 to $63.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Royal Bank Of Canada cut their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. Rothschild & Co Redburn boosted their price objective on shares of Carrier Global from $66.00 to $67.00 in a research report on Thursday, October 30th. Finally, Mizuho reduced their price objective on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Carrier Global Stock Up 1.2%

Shares of NYSE CARR opened at $56.20 on Friday. The firm’s 50-day moving average is $53.82 and its two-hundred day moving average is $61.16. The company has a market capitalization of $47.33 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. Carrier Global has a 12-month low of $50.24 and a 12-month high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75.

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. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period last year, the company posted $0.83 EPS. The company’s revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts anticipate that Carrier Global will post 2.99 EPS for the current fiscal year.

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

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, January 20th. Carrier Global’s payout ratio is 20.13%.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARR. Costello Asset Management INC grew its holdings in shares of Carrier Global by 4.2% during the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after purchasing an additional 127 shares during the period. Rehmann Capital Advisory Group lifted its position in Carrier Global by 1.3% during the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after buying an additional 150 shares in the last quarter. Penobscot Investment Management Company Inc. grew 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 buying an additional 155 shares during the period. Abacus Wealth Partners LLC increased its position 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 worth $291,000 after acquiring an additional 165 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of Carrier Global by 1.0% in 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 currently owned by institutional investors and hedge funds.

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.