Carrier Global Corporation (NYSE:CARR) Receives $71.06 Consensus Target Price from Analysts

Shares of Carrier Global Corporation (NYSE:CARR) have been given an average rating of “Moderate Buy” by the twenty analysts that are presently covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $71.00.

CARR has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price target on Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Rothschild & Co Redburn increased their target price on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. Royal Bank Of Canada lowered their target price on Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. Morgan Stanley set a $55.00 price target on shares of Carrier Global in a research report on Thursday, January 8th. Finally, Citigroup decreased their price objective on shares of Carrier Global from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, January 12th.

Carrier Global Trading Up 1.2%

Shares of Carrier Global stock opened at $56.20 on Tuesday. Carrier Global has a 12-month low of $50.24 and a 12-month high of $81.09. The stock has a market capitalization of $47.33 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 2.18 and a beta of 1.31. The company has a 50-day simple moving average of $53.80 and a 200 day simple moving average of $60.84. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts expect that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be issued a $0.24 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, January 20th. Carrier Global’s dividend payout ratio (DPR) is 20.13%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Spirepoint Private Client LLC grew its stake in Carrier Global by 547.7% in the third 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 in the last quarter. Oak Thistle LLC bought a new stake in shares of Carrier Global during the 3rd quarter worth approximately $1,986,000. Foster Victor Wealth Advisors LLC boosted its holdings in shares of Carrier Global by 24.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after buying an additional 42,161 shares during the last quarter. Triasima Portfolio Management inc. bought a new position in shares of Carrier Global in the second quarter valued at $1,421,000. Finally, Brookstone Capital Management increased its holdings in Carrier Global by 220.8% during the third quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock worth $3,096,000 after buying an additional 35,691 shares during the last quarter. 91.00% of the stock is currently owned by 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.