Carrier Global (NYSE:CARR) Price Target Cut to $66.00 by Analysts at Robert W. Baird

Carrier Global (NYSE:CARR) had its target price dropped by Robert W. Baird from $72.00 to $66.00 in a research note issued on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 15.10% from the stock’s previous close.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a report on Monday, December 29th. Rothschild & Co Redburn reduced their price objective on shares of Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group dropped their target price on shares of Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.

Carrier Global Stock Up 0.1%

Shares of NYSE:CARR opened at $57.34 on Monday. 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 has a one year low of $50.24 and a one year high of $81.09. The company has a market cap of $48.29 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 2.30 and a beta of 1.31. The firm has a fifty day moving average price of $53.92 and a two-hundred day moving average price of $60.32.

Carrier Global (NYSE:CARR) last announced its earnings results 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 return on equity of 16.65% and a net margin of 18.05%.The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the company earned $0.83 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Analysts anticipate that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global announced that its Board of Directors has authorized a share buyback program on Tuesday, October 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Carrier Global

Hedge funds have recently made changes to their positions in the stock. Spirepoint Private Client LLC increased its holdings in shares of Carrier Global by 547.7% during the third quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock valued at $3,623,000 after acquiring an additional 51,324 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its stake in Carrier Global by 24.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after purchasing an additional 42,161 shares in the last quarter. Oak Thistle LLC purchased a new position in Carrier Global in the third quarter worth about $1,986,000. Triasima Portfolio Management inc. bought a new stake in shares of Carrier Global during the second quarter valued at approximately $1,421,000. Finally, Brookstone Capital Management lifted its position in Carrier Global by 220.8% in the 3rd quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock valued at $3,096,000 after acquiring an additional 35,691 shares in the last quarter. 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.