Carrier Global (NYSE:CARR) Stock Bumped Down to “Hold” by Zacks Research

Zacks Research cut shares of Carrier Global (NYSE:CARR) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks reports.

Several other brokerages also recently issued reports on CARR. Deutsche Bank Aktiengesellschaft reduced their price objective on Carrier Global from $71.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday. The Goldman Sachs Group decreased their target price on Carrier Global from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday. Sanford C. Bernstein reissued a “market perform” rating and set a $78.00 price target on shares of Carrier Global in a research report on Thursday, July 30th. Citigroup upped their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Wolfe Research reissued an “outperform” rating and set a $80.00 price target on shares of Carrier Global in a research report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.04.

Carrier Global Stock Down 0.2%

Shares of NYSE:CARR opened at $55.14 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $59.31 and its 200-day simple moving average is $62.93. The company has a market cap of $45.45 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 1.89 and a beta of 1.29. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $76.76.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.Carrier Global’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities research analysts predict that Carrier Global will post 2.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CARR. Confluence Investment Management LLC increased its stake in shares of Carrier Global by 54.3% during the third quarter. Confluence Investment Management LLC now owns 729,501 shares of the company’s stock valued at $40,020,000 after acquiring an additional 256,723 shares during the period. QRG Capital Management Inc. boosted its position in shares of Carrier Global by 15.5% in the 2nd quarter. QRG Capital Management Inc. now owns 152,176 shares of the company’s stock valued at $11,162,000 after purchasing an additional 20,372 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Carrier Global by 19.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,189 shares of the company’s stock worth $1,407,000 after acquiring an additional 3,131 shares in the last quarter. Anchor Investment Management LLC grew its position in Carrier Global by 25.8% during the 2nd quarter. Anchor Investment Management LLC now owns 4,551 shares of the company’s stock worth $334,000 after purchasing an additional 934 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC grew its holdings in shares of Carrier Global by 3.0% during the second quarter. Reynders McVeigh Capital Management LLC now owns 918,219 shares of the company’s stock valued at $67,351,000 after buying an additional 27,061 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.