Carrier Global (NYSE:CARR) Price Target Lowered to $68.00 at Royal Bank Of Canada

Carrier Global (NYSE:CARR) had its target price trimmed by Royal Bank Of Canada from $74.00 to $68.00 in a report issued on Wednesday morning,MarketScreener reports. The firm currently has an outperform rating on the stock.

Several other research analysts also recently issued reports on CARR. CICC Research reduced their price target on shares of Carrier Global from $76.85 to $69.78 and set an “outperform” rating on the stock in a research report on Wednesday, February 11th. Morgan Stanley set a $55.00 price target on shares of Carrier Global in a research report on Thursday, January 8th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $65.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Rothschild & Co Redburn reduced their price target on shares of Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. Finally, Citigroup upped their price target on shares of Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $69.82.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $58.33 on Wednesday. The business has a fifty day moving average of $60.29 and a 200-day moving average of $57.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.20. Carrier Global has a twelve month low of $50.24 and a twelve month high of $81.09. The firm has a market cap of $48.73 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.27 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, equities research analysts predict that Carrier Global will post 2.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors boosted its holdings in Carrier Global by 6.7% during the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock worth $3,461,142,000 after buying an additional 3,630,524 shares during the last quarter. State Street Corp boosted its holdings in Carrier Global by 1.1% during the fourth quarter. State Street Corp now owns 33,728,829 shares of the company’s stock worth $1,782,231,000 after buying an additional 351,490 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Carrier Global by 0.6% during the third quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock worth $903,807,000 after buying an additional 90,585 shares during the last quarter. Dodge & Cox boosted its holdings in Carrier Global by 5.1% during the third quarter. Dodge & Cox now owns 13,427,697 shares of the company’s stock worth $801,634,000 after buying an additional 651,648 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Carrier Global by 1.8% during the fourth quarter. Morgan Stanley now owns 11,757,449 shares of the company’s stock worth $621,264,000 after buying an additional 210,952 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

About Carrier Global

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.