Wells Fargo & Company Upgrades Carrier Global (NYSE:CARR) to Strong-Buy

Carrier Global (NYSE:CARR) was upgraded by investment analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.

Several other research firms also recently weighed in on CARR. Zacks Research upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carrier Global in a report on Monday, July 20th. Sanford C. Bernstein reiterated a “market perform” rating and set a $78.00 price objective on shares of Carrier Global in a research note on Thursday, July 30th. Morgan Stanley raised their target price on Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Carrier Global in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average price target of $73.38.

Carrier Global Price Performance

Carrier Global stock opened at $56.31 on Thursday. The stock has a market capitalization of $46.42 billion, a P/E ratio of 39.10, a P/E/G ratio of 2.11 and a beta of 1.30. The company’s fifty day moving average price is $60.58 and its 200 day moving average price is $63.01. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. Carrier Global has a 1 year low of $50.24 and a 1 year high of $76.76.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities research analysts anticipate that Carrier Global will post 2.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in Carrier Global in the 2nd quarter valued at about $590,759,000. Bank of America Corp DE purchased a new stake in shares of Carrier Global during the 2nd quarter valued at approximately $572,908,000. Norges Bank purchased a new stake in shares of Carrier Global during the 4th quarter valued at approximately $380,299,000. Fiera Capital Corp lifted its holdings in Carrier Global by 5.3% in the fourth quarter. Fiera Capital Corp now owns 6,923,485 shares of the company’s stock valued at $365,837,000 after acquiring an additional 348,812 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Carrier Global by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock valued at $354,188,000 after acquiring an additional 246,723 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other 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 and related controls, building automation technologies, and services designed to improve indoor comfort, energy efficiency and building performance.

Carrier also provides refrigeration equipment and systems for commercial, industrial and transportation applications, supporting food preservation and cold-chain operations.