Sanford C. Bernstein Upgrades Carrier Global (NYSE:CARR) to Hold

Carrier Global (NYSE:CARR) was upgraded by equities researchers at Sanford C. Bernstein to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

CARR has been the topic of several other reports. BNP Paribas Exane assumed coverage on Carrier Global in a research report on Tuesday, April 14th. They set a “neutral” rating and a $62.00 price target on the stock. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Robert W. Baird upped their price objective on Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. Wells Fargo & Company upped their price objective on Carrier Global from $58.00 to $71.00 in a research note on Friday, May 1st. Finally, Rothschild & Co Redburn upped their price objective on Carrier Global from $61.00 to $73.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Twelve research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.09.

Carrier Global Stock Performance

CARR stock opened at $68.05 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The firm has a market cap of $56.52 billion, a P/E ratio of 44.77, a P/E/G ratio of 2.86 and a beta of 1.34. Carrier Global has a 12-month low of $50.24 and a 12-month high of $81.09. The stock’s 50 day simple moving average is $63.17 and its 200 day simple moving average is $59.44.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.01 billion. Carrier Global had a return on equity of 14.81% and a net margin of 5.99%.The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, equities research analysts predict that Carrier Global will post 2.78 EPS for the current year.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in shares of Carrier Global by 5.2% during the first quarter. Parallel Advisors LLC now owns 15,363 shares of the company’s stock valued at $865,000 after purchasing an additional 763 shares in the last quarter. Summitry LLC raised its stake in shares of Carrier Global by 43.3% during the first quarter. Summitry LLC now owns 1,419,812 shares of the company’s stock valued at $79,950,000 after purchasing an additional 429,060 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new stake in shares of Carrier Global during the first quarter valued at about $349,000. Arete Wealth Advisors LLC boosted its stake in Carrier Global by 2.1% during the first quarter. Arete Wealth Advisors LLC now owns 42,021 shares of the company’s stock valued at $2,366,000 after buying an additional 869 shares in the last quarter. Finally, FinArc Investments Inc. bought a new position in Carrier Global during the first quarter valued at about $2,129,000. 91.00% of the stock is currently 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.