Wolfe Research Cuts Carrier Global (NYSE:CARR) Price Target to $70.00

Carrier Global (NYSE:CARR) had its price target decreased by Wolfe Research from $74.00 to $70.00 in a report published on Thursday,MarketScreener reports. Wolfe Research currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on CARR. Mizuho lowered 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. UBS Group decreased their price target on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. JPMorgan Chase & Co. reduced their target price on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Morgan Stanley set a $55.00 price target on Carrier Global in a research note on Thursday, January 8th. Finally, Robert W. Baird set a $72.00 price target on Carrier Global in a report on Wednesday, October 29th. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.00.

Carrier Global Price Performance

NYSE CARR opened at $56.20 on Thursday. Carrier Global has a twelve month low of $50.24 and a twelve month 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 $47.33 billion, a PE ratio of 12.57, a P/E/G ratio of 2.17 and a beta of 1.31. The stock has a 50-day simple moving average of $53.82 and a 200 day simple moving average of $61.07.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm 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%.The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

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

Carrier Global Increases Dividend

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

Institutional Trading of Carrier Global

A number of large investors have recently bought and sold shares of CARR. Brighton Jones LLC boosted its stake in shares of Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after purchasing an additional 1,850 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Carrier Global by 51.5% during the 1st quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock valued at $4,236,000 after purchasing an additional 23,200 shares during the last quarter. Fiduciary Alliance LLC acquired a new position in Carrier Global in the second quarter valued at about $212,000. Breakwater Capital Group grew its stake in Carrier Global by 51.0% during the second quarter. Breakwater Capital Group now owns 6,442 shares of the company’s stock worth $471,000 after buying an additional 2,176 shares during the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of Carrier Global during the second quarter worth approximately $251,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Company Profile

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.