Carrier Global Corporation (NYSE:CARR) Receives $74.09 Average Price Target from Brokerages

Carrier Global Corporation (NYSE:CARR) has received a consensus rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $74.0890.

Several equities analysts have recently issued reports on the stock. Argus boosted their price target on shares of Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. The Goldman Sachs Group boosted their price target on shares of Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. Citigroup boosted their price target on shares of Carrier Global from $72.00 to $79.00 and gave the company a “buy” rating in a report on Friday, May 1st. Zacks Research raised shares of Carrier Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Carrier Global from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, May 14th.

Carrier Global Stock Up 3.5%

CARR stock opened at $71.92 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.75. Carrier Global has a 1-year low of $50.24 and a 1-year high of $81.09. The firm has a fifty day moving average price of $64.92 and a two-hundred day moving average price of $60.15. The firm has a market cap of $59.74 billion, a price-to-earnings ratio of 47.32, a PEG ratio of 2.79 and a beta of 1.34.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Research analysts predict that Carrier Global will post 2.78 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, July 21st. This represents a $0.96 annualized dividend and a dividend yield of 1.3%. Carrier Global’s payout ratio is 63.16%.

Hedge Funds Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Carrier Global in the fourth quarter worth about $380,299,000. Capital International Investors lifted its holdings in Carrier Global by 6.7% in the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock worth $3,461,142,000 after purchasing an additional 3,630,524 shares during the period. Ameriprise Financial Inc. lifted its holdings in Carrier Global by 506.1% in the third quarter. Ameriprise Financial Inc. now owns 4,187,219 shares of the company’s stock worth $249,977,000 after purchasing an additional 3,496,372 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Carrier Global by 461.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,460,321 shares of the company’s stock worth $130,003,000 after purchasing an additional 2,022,136 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new stake in Carrier Global in the fourth quarter worth about $99,839,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.