JPMorgan Chase & Co. Increases Carrier Global (NYSE:CARR) Price Target to $79.00

Carrier Global (NYSE:CARR) had its target price lifted by JPMorgan Chase & Co. from $66.00 to $79.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 4.46% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Monday, February 24th. Northcoast Research upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Friday, May 9th. Mizuho set a $72.00 price objective on shares of Carrier Global in a report on Tuesday, April 22nd. Citigroup lowered their target price on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada lifted their price target on shares of Carrier Global from $71.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $82.53.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $75.63 on Friday. Carrier Global has a 52 week low of $54.22 and a 52 week high of $83.32. The company has a 50-day moving average price of $64.53 and a 200 day moving average price of $67.94. The company has a market cap of $64.83 billion, a P/E ratio of 12.04, a PEG ratio of 2.01 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the business posted $0.51 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. Research analysts predict that Carrier Global will post 2.99 earnings per share for the current year.

Hedge Funds Weigh In On Carrier Global

Several hedge funds have recently bought and sold shares of CARR. BOK Financial Private Wealth Inc. increased its position in Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after purchasing an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Carrier Global during the fourth quarter worth about $28,000. Accredited Wealth Management LLC acquired a new position in shares of Carrier Global in the first quarter valued at approximately $28,000. Finally, Investment Research & Advisory Group Inc. acquired a new position in shares of Carrier Global in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.