Carrier Global (NYSE:CARR) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Carrier Global (NYSE:CARR) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities analysts have also commented on CARR. Rothschild & Co Redburn decreased their price objective on shares of Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a report on Wednesday, January 21st. UBS Group dropped their target price on Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Citigroup raised their price objective on shares of Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Finally, Robert W. Baird upped their price objective on Carrier Global from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.65.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $67.22 on Monday. Carrier Global has a one year low of $50.24 and a one year high of $81.09. The company has a market cap of $56.18 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 2.64 and a beta of 1.33. The business’s 50 day moving average price is $56.15 and its 200 day moving average price is $59.03. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.20.

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

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $0.96 dividend on an annualized basis and a yield of 1.4%. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is presently 56.14%.

Carrier Global declared that its board has initiated a stock buyback program on Tuesday, October 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Carrier Global by 23.8% in the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock valued at $2,820,485,000 after purchasing an additional 7,409,432 shares during the last quarter. Norges Bank purchased a new stake in shares of Carrier Global in the 4th quarter worth about $380,299,000. Capital International Investors grew its stake in Carrier Global by 6.7% in the 3rd quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock valued at $3,461,142,000 after acquiring an additional 3,630,524 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Carrier Global by 506.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,187,219 shares of the company’s stock valued at $249,977,000 after acquiring an additional 3,496,372 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Carrier Global by 1,742.8% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,623,000 shares of the company’s stock worth $265,167,000 after acquiring an additional 3,426,395 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.