Carrier Global (NYSE:CARR) Stock Rated “Neutral” in New Coverage at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Carrier Global (NYSE:CARR) in a research report released on Friday morning, Marketbeat reports. The firm issued a neutral rating and a $61.00 price objective on the stock.

A number of other analysts have also weighed in on the stock. Sanford C. Bernstein reduced their price target on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a research note on Wednesday, October 7th. Wolfe Research reiterated an “outperform” rating and set a $80.00 price objective on shares of Carrier Global in a research note on Thursday, July 9th. Zacks Research lowered shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. The Goldman Sachs Group dropped their target price on Carrier Global from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Finally, Citigroup boosted their target price on Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $71.93.

Carrier Global Stock Performance

CARR stock opened at $55.55 on Friday. The company has a 50-day simple moving average of $58.55 and a 200 day simple moving average of $62.90. The company has a market capitalization of $45.79 billion, a P/E ratio of 38.58, a PEG ratio of 1.90 and a beta of 1.29. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $76.76.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. Carrier Global’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Sell-side analysts predict that Carrier Global will post 2.87 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.96 annualized dividend and a yield of 1.7%. Carrier Global’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Investors Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Johnson Financial Group Inc. acquired a new position in Carrier Global during the second quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in Carrier Global during the 2nd quarter worth about $26,000. Financial Management Professionals Inc. boosted its position in Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after acquiring an additional 225 shares during the period. Burnham & Co LLC purchased a new position in Carrier Global during the 2nd quarter valued at about $37,000. Finally, Signature Equity Partners LLC grew its stake in Carrier Global by 449.2% during the 1st quarter. Signature Equity Partners LLC now owns 648 shares of the company’s stock valued at $36,000 after acquiring an additional 530 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.