Argus Issues Positive Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price target hoisted by Argus from $70.00 to $72.00 in a report published on Monday morning,MarketScreener reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their target price on shares of Carrier Global from $68.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada increased their price objective on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Barclays decreased their price target on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. increased their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.65.

Carrier Global Stock Up 2.2%

CARR opened at $65.34 on Monday. The firm has a market cap of $54.61 billion, a P/E ratio of 38.21, a PEG ratio of 2.63 and a beta of 1.32. The business’s fifty day simple moving average is $55.66 and its 200 day simple moving average is $59.08. Carrier Global has a 52 week low of $50.24 and a 52 week high of $81.09. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. Carrier Global’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, equities research analysts anticipate that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global announced that its board has initiated a share repurchase plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.5%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, January 20th. Carrier Global’s dividend payout ratio is 56.14%.

Hedge Funds Weigh In On Carrier Global

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Carrier Global by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock worth $6,833,980,000 after buying an additional 450,594 shares during the last quarter. Capital International Investors raised its stake in Carrier Global by 6.7% during the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock worth $3,461,142,000 after acquiring an additional 3,630,524 shares during the period. JPMorgan Chase & Co. raised its position in shares of Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after purchasing an additional 7,409,432 shares during the period. State Street Corp grew its stake in Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,377,339 shares of the company’s stock worth $1,992,627,000 after buying an additional 473,692 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Carrier Global by 0.6% during the third quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock worth $903,807,000 after acquiring an additional 90,585 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Company Profile

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.