Carrier Global (NYSE:CARR) Stock Gets Price Target Reduction from Royal Bank Of Canada

Carrier Global (NYSE:CARR) had its price objective trimmed by Royal Bank Of Canada from $82.00 to $72.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on CARR. Sanford C. Bernstein decreased their price objective on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a research report on Wednesday, October 7th. Wolfe Research reissued an “outperform” rating and issued a $80.00 price target on shares of Carrier Global in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Carrier Global in a research note on Monday, July 20th. Finally, Zacks Research cut shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Eleven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

Carrier Global Price Performance

Shares of CARR stock opened at $54.90 on Wednesday. The firm has a market capitalization of $45.26 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.88 and a beta of 1.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. The stock’s 50-day simple moving average is $57.60 and its 200-day simple moving average is $62.79. 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 quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities analysts forecast that Carrier Global will post 2.87 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

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

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in Carrier Global in the second quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in shares of Carrier Global during the 2nd quarter worth $26,000. Financial Management Professionals Inc. raised its stake in shares of 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 buying an additional 225 shares during the last quarter. Burnham & Co LLC purchased a new stake in shares of Carrier Global in the 2nd quarter worth about $37,000. Finally, Downshift Financial LLC boosted its position in shares of Carrier Global by 69.5% in the 3rd quarter. Downshift Financial LLC now owns 517 shares of the company’s stock worth $28,000 after buying an additional 212 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

About Carrier Global

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.