Royal Bank Of Canada Lowers Carrier Global (NYSE:CARR) Price Target to $75.00

Carrier Global (NYSE:CARR) had its target price decreased by investment analysts at Royal Bank Of Canada from $87.00 to $75.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 21.60% from the stock’s previous close.

A number of other research analysts also recently issued reports on CARR. Barclays decreased their price target on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a research note on Thursday. Citigroup restated a “buy” rating and set a $89.00 price objective (up previously from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. JPMorgan Chase & Co. restated a “neutral” rating and set a $79.00 price objective on shares of Carrier Global in a research report on Tuesday, July 15th. Melius Research upgraded shares of Carrier Global to a “hold” rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. Finally, Morgan Stanley reduced their price objective on shares of Carrier Global from $78.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, August 8th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.12.

Carrier Global Stock Down 1.0%

Shares of Carrier Global stock opened at $61.68 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 of $69.37 and a 200 day moving average of $68.08. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $52.49 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.76 and a beta of 1.25.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, research analysts forecast that Carrier Global will post 2.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC increased its holdings in shares of Carrier Global by 9.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 13,346 shares of the company’s stock valued at $977,000 after acquiring an additional 1,187 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Carrier Global by 20.9% in the 2nd quarter. Osaic Holdings Inc. now owns 292,728 shares of the company’s stock valued at $21,194,000 after acquiring an additional 50,619 shares during the period. Centaurus Financial Inc. acquired a new position in shares of Carrier Global in the 2nd quarter valued at $111,000. Lavaca Capital LLC increased its holdings in shares of Carrier Global by 31.3% in the 2nd quarter. Lavaca Capital LLC now owns 839 shares of the company’s stock valued at $61,000 after acquiring an additional 200 shares during the period. Finally, Orion Porfolio Solutions LLC increased its holdings in shares of Carrier Global by 0.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 37,188 shares of the company’s stock valued at $2,722,000 after acquiring an additional 286 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

About Carrier Global

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.