Carrier Global (NYSE:CARR) Price Target Cut to $61.00 by Analysts at Rothschild & Co Redburn

Carrier Global (NYSE:CARR) had its target price cut by Rothschild & Co Redburn from $67.00 to $61.00 in a research report released on Wednesday,MarketScreener reports. They currently have a neutral rating on the stock.

CARR has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price target on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Carrier Global in a report on Monday, December 29th. Citigroup cut their target price on shares of Carrier Global from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. The Goldman Sachs Group decreased their price target on Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Finally, Wells Fargo & Company cut their price objective on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $69.44.

Carrier Global Stock Up 4.7%

Shares of Carrier Global stock opened at $57.82 on Wednesday. Carrier Global has a 1-year low of $50.24 and a 1-year high of $81.09. The company has a market capitalization of $48.70 billion, a PE ratio of 12.94, a P/E/G ratio of 2.20 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. The business has a 50-day moving average of $53.80 and a 200-day moving average of $60.67.

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

Carrier Global announced that its Board of Directors has initiated a stock repurchase program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be issued a $0.24 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $0.96 annualized dividend and a dividend yield of 1.7%. Carrier Global’s dividend payout ratio (DPR) is 21.48%.

Institutional Investors Weigh In On Carrier Global

Hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in shares of Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after acquiring an additional 1,850 shares during the period. AQR Capital Management LLC increased its stake in shares of Carrier Global by 51.5% in the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock valued at $4,236,000 after purchasing an additional 23,200 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Carrier Global by 13.2% in the second quarter. Farther Finance Advisors LLC now owns 10,943 shares of the company’s stock valued at $801,000 after purchasing an additional 1,279 shares during the period. Opal Wealth Advisors LLC raised its holdings in shares of Carrier Global by 37.4% during the second quarter. Opal Wealth Advisors LLC now owns 2,761 shares of the company’s stock valued at $202,000 after buying an additional 752 shares during the last quarter. Finally, Maseco LLP acquired a new position in shares of Carrier Global during the second quarter worth approximately $62,000. 91.00% of the stock is currently owned by institutional investors.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.