CICC Research Cuts Carrier Global (NYSE:CARR) Price Target to $69.78

Carrier Global (NYSE:CARR) had its target price lowered by CICC Research from $76.85 to $69.78 in a report released on Wednesday morning,MarketScreener reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on CARR. Rothschild & Co Redburn reduced their price target on Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a report on Wednesday, January 21st. Robert W. Baird lifted their price objective on Carrier Global from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Morgan Stanley set a $55.00 price target on Carrier Global in a research note on Thursday, January 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Carrier Global from $59.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.60.

Carrier Global Stock Up 0.8%

Shares of NYSE CARR opened at $65.43 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80. Carrier Global has a 52 week low of $50.24 and a 52 week high of $81.09. The firm’s fifty day moving average is $56.59 and its 200 day moving average is $58.97. The company has a market cap of $54.69 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.60 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share 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 firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the company earned $0.54 EPS. The company’s quarterly 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 research analysts expect that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Tuesday, January 20th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.5%. Carrier Global’s payout ratio is currently 56.14%.

Carrier Global declared that its board has initiated a share repurchase program on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Carrier Global

A number of hedge funds and other institutional investors have recently modified their holdings of CARR. Rehmann Capital Advisory Group lifted its position in Carrier Global by 1.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after acquiring an additional 150 shares during the period. Kingsview Wealth Management LLC lifted its holdings in shares of Carrier Global by 1.0% during the second quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock valued at $1,252,000 after purchasing an additional 165 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Carrier Global by 0.6% in the 2nd quarter. Empirical Finance LLC now owns 29,227 shares of the company’s stock worth $2,139,000 after purchasing an additional 168 shares in the last quarter. Poehling Capital Management INC. grew its stake in shares of Carrier Global by 0.4% in the 2nd quarter. Poehling Capital Management INC. now owns 38,397 shares of the company’s stock worth $2,810,000 after buying an additional 169 shares during the last quarter. Finally, Advisory Alpha LLC increased its position in Carrier Global by 2.9% during the 4th quarter. Advisory Alpha LLC now owns 6,034 shares of the company’s stock valued at $319,000 after buying an additional 171 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other 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.