JPMorgan Chase & Co. Begins Coverage on Carrier Global (NYSE:CARR)

Key Points

• JPMorgan initiated coverage of Carrier Global with a “neutral” rating and a $61 price target, implying roughly 10% upside from the reported $55.43 share price.
• Analyst sentiment is broadly positive but mixed: Carrier has a consensus “Moderate Buy” rating from 21 analysts, with an average price target of $71.93.
• Carrier exceeded quarterly expectations, reporting $0.86 in EPS versus $0.82 expected and $6.35 billion in revenue versus $6.02 billion forecast; institutional investors own approximately 91% of its shares.

Equities researchers at JPMorgan Chase & Co. started coverage on shares of Carrier Global (NYSE:CARR - Get Free Report) in a report issued on Friday. The brokerage set a "neutral" rating and a $61.00 price target on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 10.04% from the stock's current price.

CARR has been the subject of several other reports. Citigroup raised their price objective on Carrier Global from $79.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a research report on Wednesday, September 30th. Sanford C. Bernstein lowered their target price on Carrier Global from $78.00 to $64.00 and set a "market perform" rating on the stock in a report on Wednesday. Wolfe Research restated an "outperform" rating and issued a $80.00 price target on shares of Carrier Global in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group cut their price target on Carrier Global from $85.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, September 30th. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and an average price target of $71.93.

Carrier Global Price Performance

Shares of NYSE CARR traded down $0.40 during trading on Friday, hitting $55.43. 164,697 shares of the company were exchanged, compared to its average volume of 6,771,181. The firm's fifty day moving average price is $58.68 and its 200 day moving average price is $62.92. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The company has a market cap of $45.70 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 1.88 and a beta of 1.29. Carrier Global has a 1 year low of $50.24 and a 1 year high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last released 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. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The firm's revenue was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, sell-side analysts expect that Carrier Global will post 2.87 earnings per share for the current fiscal year.

Institutional Trading of Carrier Global

Hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new position in Carrier Global during the second quarter worth about $25,000. Meeder Asset Management Inc. acquired a new position in shares of Carrier Global during the 2nd quarter valued at about $26,000. Financial Management Professionals Inc. lifted its holdings in shares of Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after acquiring an additional 225 shares during the period. Burnham & Co LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth about $37,000. Finally, Signature Equity Partners LLC increased its position in Carrier Global by 449.2% during the first quarter. Signature Equity Partners LLC now owns 648 shares of the company's stock worth $36,000 after purchasing an additional 530 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

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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