Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Key Points

• Deutsche Bank cut Carrier Global’s price target from $71 to $64 and maintained a “hold” rating, implying about 15.6% upside from the prior close.
• Despite the cautious outlook, analysts overall rate Carrier Global a “Moderate Buy,” with an average price target of $73.04; the stock opened at $55.38 and was trading below its 50- and 200-day moving averages.
• Carrier beat quarterly expectations with $0.86 in earnings per share versus $0.82 expected and $6.35 billion in revenue, while institutional investors own approximately 91% of outstanding shares.

Carrier Global (NYSE:CARR - Get Free Report) had its price target dropped by equities researchers at Deutsche Bank Aktiengesellschaft from $71.00 to $64.00 in a research report issued to clients and investors on Wednesday. The firm presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective points to a potential upside of 15.58% from the company's previous close.

A number of other analysts also recently weighed in on CARR. Wolfe Research restated an "outperform" rating and issued a $80.00 price target on shares of Carrier Global in a research note on Thursday, July 9th. Wells Fargo & Company assumed coverage on Carrier Global in a report on Thursday, September 24th. They issued an "overweight" rating and a $67.00 target price for the company. Citigroup boosted 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. Sanford C. Bernstein reissued a "market perform" rating and set a $78.00 price objective on shares of Carrier Global in a report on Thursday, July 30th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $74.00 target price on shares of Carrier Global in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and an average target price of $73.04.

Carrier Global Trading Down 0.9%

NYSE:CARR opened at $55.38 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. The stock's 50 day simple moving average is $60.13 and its 200-day simple moving average is $63.00. Carrier Global has a 12-month low of $50.24 and a 12-month high of $76.76. The firm has a market cap of $45.65 billion, a P/E ratio of 38.45, a PEG ratio of 2.15 and a beta of 1.30.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in shares of Carrier Global in the second quarter worth $590,759,000. Bank of America Corp DE purchased a new stake in Carrier Global during the 2nd quarter worth about $572,908,000. Fiera Capital Corp increased its position in Carrier Global by 5.3% during the 4th quarter. Fiera Capital Corp now owns 6,923,485 shares of the company's stock worth $365,837,000 after purchasing an additional 348,812 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Carrier Global by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company's stock valued at $354,188,000 after purchasing an additional 246,723 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Carrier Global in the 2nd quarter valued at about $322,366,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Company Profile

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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