Wells Fargo & Company Cuts Carrier Global (NYSE:CARR) Price Target to $58.00

Carrier Global (NYSE:CARR) had its target price decreased by Wells Fargo & Company from $65.00 to $58.00 in a report released on Wednesday morning, MarketBeat reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays lowered their target price on shares of Carrier Global from $72.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a report on Monday, December 29th. Morgan Stanley set a $55.00 price target on shares of Carrier Global in a report on Thursday, January 8th. Robert W. Baird lifted their price target on shares of Carrier Global from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. upped their price objective on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.15.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $55.79 on Wednesday. Carrier Global has a twelve month low of $50.24 and a twelve month high of $81.09. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. The company has a market cap of $46.61 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 2.27 and a beta of 1.32. The company’s 50 day moving average is $60.35 and its 200 day moving average is $57.49.

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

Institutional Trading of Carrier Global

A number of large investors have recently made changes to their positions in the company. Spirepoint Private Client LLC raised its position in Carrier Global by 547.7% in the 3rd quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock valued at $3,623,000 after purchasing an additional 51,324 shares during the last quarter. Becker Capital Management Inc. grew its position in Carrier Global by 5.6% during the 3rd quarter. Becker Capital Management Inc. now owns 425,547 shares of the company’s stock worth $25,405,000 after purchasing an additional 22,377 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its stake in Carrier Global by 24.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after purchasing an additional 42,161 shares during the period. Oak Thistle LLC acquired a new position in Carrier Global in the third quarter valued at $1,986,000. Finally, Brookstone Capital Management raised its holdings in shares of Carrier Global by 220.8% in the third quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock valued at $3,096,000 after buying an additional 35,691 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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.