Carrier Global (NYSE:CARR) Stock Moved Down to "Hold" by Zacks Research

Key Points

• Zacks Research downgraded Carrier Global from “strong buy” to “hold,” though the broader analyst consensus remains “Moderate Buy” with an average price target of $73.04.
• Carrier shares opened at $55.14, below their 50-day and 200-day moving averages, and remained closer to the 52-week low of $50.24 than the high of $76.76.
• The company beat quarterly expectations, reporting $0.86 in EPS versus $0.82 expected and $6.35 billion in revenue versus $6.02 billion expected; institutional investors own approximately 91% of the stock.

Carrier Global (NYSE:CARR - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday, Zacks reports.

Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein reissued a "market perform" rating and set a $78.00 price target on shares of Carrier Global in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft cut their price objective on Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a report on Wednesday. Wells Fargo & Company started coverage on Carrier Global in a research note on Thursday, September 24th. They issued an "overweight" rating and a $67.00 price objective on the stock. The Goldman Sachs Group decreased their target price on Carrier Global from $85.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Citigroup increased their target price on shares of Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.04.

Carrier Global Stock Performance

NYSE:CARR opened at $55.14 on Thursday. The company has a market cap of $45.45 billion, a P/E ratio of 38.29, a P/E/G ratio of 1.89 and a beta of 1.29. The firm's 50 day moving average is $59.31 and its two-hundred day moving average is $62.93. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Analysts expect that Carrier Global will post 2.87 EPS for the current year.

Institutional Trading of Carrier Global

Large investors have recently modified their holdings of the business. Confluence Investment Management LLC lifted its holdings in shares of Carrier Global by 54.3% in the third quarter. Confluence Investment Management LLC now owns 729,501 shares of the company's stock valued at $40,020,000 after buying an additional 256,723 shares during the period. QRG Capital Management Inc. grew its holdings in Carrier Global by 15.5% during the second quarter. QRG Capital Management Inc. now owns 152,176 shares of the company's stock worth $11,162,000 after acquiring an additional 20,372 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Carrier Global by 19.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,189 shares of the company's stock worth $1,407,000 after acquiring an additional 3,131 shares in the last quarter. Anchor Investment Management LLC raised its position in Carrier Global by 25.8% in the second quarter. Anchor Investment Management LLC now owns 4,551 shares of the company's stock worth $334,000 after acquiring an additional 934 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC lifted its holdings in Carrier Global by 3.0% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 918,219 shares of the company's stock valued at $67,351,000 after acquiring an additional 27,061 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 NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.

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