JPMorgan Chase & Co. Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its target price dropped by analysts at JPMorgan Chase & Co. from $61.00 to $60.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.83% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Barclays dropped their price target on Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Wolfe Research dropped their target price on Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped their target price on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank Of Canada dropped their target price on Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Carrier Global in a research report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Carrier Global Stock Performance

Shares of CARR opened at $59.51 on Friday. The company has a market cap of $50.12 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.36 and a beta of 1.25. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average price of $60.56 and a 200-day moving average price of $66.98. Carrier Global has a 12-month low of $54.22 and a 12-month high of $81.09.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the company posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global declared that its Board of Directors has approved a share buyback program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Carrier Global

A number of large investors have recently bought and sold shares of CARR. Golden State Wealth Management LLC lifted its holdings in shares of Carrier Global by 51.8% during the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock valued at $88,000 after purchasing an additional 474 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Carrier Global during the first quarter valued at $400,000. Shell Asset Management Co. lifted its holdings in shares of Carrier Global by 98.4% during the second quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock valued at $1,768,000 after purchasing an additional 11,980 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Carrier Global by 1.5% during the second quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock valued at $5,369,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Aberdeen Group plc lifted its holdings in shares of Carrier Global by 1.8% during the first quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock valued at $44,854,000 after purchasing an additional 12,346 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.