Carrier Global (NYSE:CARR) Price Target Raised to $72.00

Carrier Global (NYSE:CARR) had its price objective hoisted by Argus from $70.00 to $72.00 in a research note released on Monday, Marketbeat.com reports. Argus currently has a buy rating on the stock.

CARR has been the topic of several other reports. Wells Fargo & Company raised their target price on shares of Carrier Global from $59.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, February 6th. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Robert W. Baird upped their target price on Carrier Global from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Mizuho reduced their target price on Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $70.65.

Carrier Global Stock Up 2.1%

CARR stock opened at $67.22 on Monday. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $81.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85. The stock has a market capitalization of $56.18 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 2.64 and a beta of 1.33. The business’s fifty day moving average price is $56.15 and its two-hundred day moving average price is $59.03.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the company posted $0.54 earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, equities analysts anticipate that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, January 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is 56.14%.

Carrier Global announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Carrier Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AdvisorShares Investments LLC acquired a new stake in shares of Carrier Global during the 2nd quarter valued at $25,000. KERR FINANCIAL PLANNING Corp bought a new position in Carrier Global in the third quarter valued at about $25,000. YANKCOM Partnership boosted its stake in shares of Carrier Global by 78.5% during the fourth quarter. YANKCOM Partnership now owns 473 shares of the company’s stock valued at $25,000 after purchasing an additional 208 shares in the last quarter. Torren Management LLC bought a new stake in shares of Carrier Global during the fourth quarter worth about $25,000. Finally, Winnow Wealth LLC acquired a new position in shares of Carrier Global in the second quarter valued at approximately $26,000. Institutional investors own 91.00% of the company’s stock.

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.