JPMorgan Chase & Co. Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Key Points

• JPMorgan lowered Carrier Global’s price target from $61 to $60 while maintaining a neutral rating, implying approximately 12.3% upside from the reported $53.45 share price.
• Analyst sentiment remains broadly positive: 11 analysts rate the stock a Buy and nine a Hold, producing a consensus “Moderate Buy” rating and an average price target of $69.54, despite several recent target reductions.
• Carrier exceeded quarterly expectations, reporting adjusted EPS of $0.87 versus $0.76 expected and revenue of $6.26 billion, up 12.3% year over year; institutional investors own approximately 91% of the stock.

Carrier Global (NYSE:CARR - Get Free Report) had its price target cut by JPMorgan Chase & Co. from $61.00 to $60.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 12.26% from the company's current price.

CARR has been the topic of several other reports. Royal Bank Of Canada reduced their price target on Carrier Global from $72.00 to $70.00 and set an "outperform" rating on the stock in a report on Friday. Wolfe Research reiterated an "outperform" rating and issued a $80.00 price objective on shares of Carrier Global in a report on Thursday, July 9th. Sanford C. Bernstein cut their target price on shares of Carrier Global from $78.00 to $64.00 and set a "market perform" rating on the stock in a research report on Wednesday, October 7th. Wells Fargo & Company reduced their target price on shares of Carrier Global from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Carrier Global in a research report on Friday, October 16th. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.54.

Carrier Global Price Performance

Shares of CARR traded down $2.09 during trading hours on Friday, reaching $53.45. The stock had a trading volume of 9,822,210 shares, compared to its average volume of 6,731,465. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. Carrier Global has a 12 month low of $50.24 and a 12 month high of $76.76. The stock has a market capitalization of $44.06 billion, a PE ratio of 37.12, a PEG ratio of 1.92 and a beta of 1.29. The company's 50-day moving average is $56.37 and its two-hundred day moving average is $61.71.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.09 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%. Carrier Global's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. Research analysts expect that Carrier Global will post 2.87 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van Hulzen Asset Management LLC purchased a new stake in Carrier Global in the 2nd quarter worth about $1,992,000. Robeco Institutional Asset Management B.V. lifted its holdings in Carrier Global by 269.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 118,806 shares of the company's stock valued at $6,646,000 after purchasing an additional 86,665 shares during the last quarter. Cardinal Capital Management Inc. lifted its holdings in Carrier Global by 7.1% during the second quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company's stock valued at $42,201,000 after purchasing an additional 37,934 shares during the last quarter. Reynders McVeigh Capital Management LLC boosted its position in Carrier Global by 3.0% during the second quarter. Reynders McVeigh Capital Management LLC now owns 918,219 shares of the company's stock worth $67,351,000 after purchasing an additional 27,061 shares during the period. Finally, Avity Investment Management Inc. boosted its position in Carrier Global by 33.9% during the second quarter. Avity Investment Management Inc. now owns 194,484 shares of the company's stock worth $14,265,000 after purchasing an additional 49,260 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Carrier Global

Here are the key news stories impacting Carrier Global this week:

• Positive Sentiment: Q3 results exceeded expectations: Carrier reported adjusted EPS of $0.87, above the $0.76 consensus estimate, while revenue increased 12.3% year over year to $6.26 billion, topping expectations of $6.09 billion. Carrier Reports Third Quarter 2026 Results
• Positive Sentiment: Demand and backlog strengthened: Total orders rose approximately 35%, commercial HVAC orders increased about 60%, and data-center orders surged roughly 300%. Carrier also reported a record backlog exceeding $8.5 billion and signed long-term agreements worth multiple billions of dollars with minimum volume commitments. Carrier Global Q3 2026 Earnings Call Highlights
• Positive Sentiment: Full-year sales outlook improved: Management updated its 2026 guidance for higher sales, supported by HVAC demand, the backlog and tariff refunds. Operating cash flow was $813 million and free cash flow was $674 million; the company returned approximately $600 million to shareholders through dividends and repurchases. Carrier Q3 Earnings and Sales Beat
• Neutral Sentiment: Analysts remain broadly constructive, but targets were reduced: Citigroup cut its target to $71 while retaining a Buy rating; Wells Fargo lowered its target to $65 with an Overweight rating; RBC reduced its target to $70 with an Outperform rating; and BNP Paribas Exane cut its target to $60 while maintaining Neutral. The revisions still imply substantial potential upside, but signal more cautious valuation or earnings assumptions.
• Negative Sentiment: GAAP results were affected by an impairment charge: Carrier reported a goodwill impairment for the quarter, contributing to GAAP EPS of negative $3.16 despite positive adjusted earnings. Cost pressures and the lower analyst targets may be weighing on investor sentiment.
• Negative Sentiment: Bearish options activity increased: Traders purchased 18,275 put options, approximately 189% above typical daily put volume, indicating elevated demand for downside protection or speculative bearish positioning.

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, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.