The Goldman Sachs Group Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its target price dropped by analysts at The Goldman Sachs Group from $88.00 to $76.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 23.22% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Carrier Global from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $79.00 target price on shares of Carrier Global in a research note on Tuesday, July 15th. Royal Bank Of Canada decreased their target price on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday. Melius Research raised shares of Carrier Global to a “hold” rating and set a $90.00 price target for the company in a research report on Tuesday, July 1st. Finally, Citigroup reissued a “buy” rating and set a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $82.12.

Carrier Global Trading Down 1.0%

CARR opened at $61.68 on Friday. The firm’s 50 day moving average is $69.37 and its 200-day moving average is $68.08. Carrier Global has a 52-week low of $54.22 and a 52-week high of $83.32. 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 firm 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 announced its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC grew its position in shares of Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock valued at $88,000 after buying an additional 474 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Carrier Global by 15.7% during the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company’s stock valued at $1,823,000 after buying an additional 3,900 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at about $234,000. Aberdeen Group plc grew its position in shares of Carrier Global by 1.8% during the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock valued at $44,854,000 after buying an additional 12,346 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in shares of Carrier Global by 34.0% during the 1st quarter. Ritholtz Wealth Management now owns 3,968 shares of the company’s stock valued at $252,000 after buying an additional 1,007 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.