Carrier Global (NYSE:CARR) Price Target Cut to $70.00 by Analysts at Deutsche Bank Aktiengesellschaft

Carrier Global (NYSE:CARR) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $73.00 to $70.00 in a research note released on Tuesday,MarketScreener reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also weighed in on CARR. Melius started coverage on Carrier Global in a report on Tuesday, July 1st. They set a “hold” rating and a $90.00 target price on the stock. Mizuho dropped their price target on Carrier Global from $88.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Melius Research upgraded Carrier Global to a “hold” rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 target price on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Barclays dropped their target price on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $79.72.

Carrier Global Stock Down 1.0%

Shares of NYSE CARR opened at $59.72 on Tuesday. Carrier Global has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. The stock has a market cap of $50.82 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.86 and a beta of 1.25. The firm has a 50 day moving average price of $67.24 and a 200 day moving average price of $67.89.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $6.08 billion. 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 year.

Institutional Investors Weigh In On Carrier Global

Hedge funds have recently added to or reduced their stakes in the business. Costello Asset Management INC raised its position in shares of Carrier Global by 4.2% in the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock valued at $231,000 after purchasing an additional 127 shares during the period. Rehmann Capital Advisory Group boosted its holdings in shares of Carrier Global by 1.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after buying an additional 150 shares during the period. Penobscot Investment Management Company Inc. grew its stake in Carrier Global by 0.7% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock valued at $1,525,000 after buying an additional 155 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after acquiring an additional 156 shares during the period. Finally, Code Waechter LLC lifted its position in Carrier Global by 5.1% during the first quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock worth $214,000 after acquiring an additional 164 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.