JPMorgan Chase & Co. Cuts Carrier Global (NYSE:CARR) Price Target to $61.00

Carrier Global (NYSE:CARR) had its target price cut by JPMorgan Chase & Co. from $76.00 to $61.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

CARR has been the topic of a number of other reports. Wells Fargo & Company reduced their price target on shares of Carrier Global from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Carrier Global in a report on Wednesday, October 8th. Melius Research upgraded Carrier Global to a “hold” rating and set a $90.00 target price for the company in a research note on Tuesday, July 1st. Morgan Stanley lowered their target price on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Rothschild & Co Redburn cut their price target on Carrier Global from $76.00 to $66.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus target price of $75.67.

Carrier Global Price Performance

Shares of CARR opened at $56.21 on Wednesday. Carrier Global has a 52 week low of $54.22 and a 52 week high of $82.18. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The firm has a market cap of $47.84 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.82 and a beta of 1.25. The stock has a 50 day moving average of $62.09 and a 200-day moving average of $66.93.

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

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio is 19.61%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. AdvisorShares Investments LLC bought a new stake in shares of Carrier Global during the second quarter valued at about $25,000. Winnow Wealth LLC bought a new position in Carrier Global in the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Carrier Global during the 2nd quarter valued at about $26,000. Clayton Financial Group LLC bought a new stake in shares of Carrier Global during the 3rd quarter worth about $26,000. Finally, Traub Capital Management LLC acquired a new stake in shares of Carrier Global in the 2nd quarter worth approximately $27,000. 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.