Carrier Global Corporation (NYSE:CARR) Receives $84.47 Average Target Price from Analysts

Key Points

• Carrier Global Corporation has a consensus rating of "Moderate Buy" from 17 analysts, with an average target price of $84.47.
• Institutional investors hold 91% of Carrier Global's stock, indicating strong institutional confidence in the company.
• The company's stock recently traded down 0.3% to $62.33, having reached a 12-month high of $83.32 and low of $54.22.

Carrier Global Corporation (NYSE:CARR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seventeen brokerages that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $82.1176.

A number of brokerages recently weighed in on CARR. Melius assumed coverage on shares of Carrier Global in a report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective for the company. Barclays decreased their price objective on shares of Carrier Global from $82.00 to $74.00 and set an "overweight" rating for the company in a research report on Thursday. Robert W. Baird dropped their target price on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Finally, Citigroup reaffirmed a "buy" rating and issued a $89.00 target price (up from $82.00) on shares of Carrier Global in a research report on Monday, July 14th.

Institutional Trading of Carrier Global

Institutional investors have recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Carrier Global in the first quarter valued at $649,512,000. JPMorgan Chase & Co. lifted its stake in shares of Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company's stock worth $2,820,485,000 after purchasing an additional 7,409,432 shares during the period. Norges Bank purchased a new position in shares of Carrier Global during the 2nd quarter worth $524,939,000. Brown Advisory Inc. lifted its stake in shares of Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after purchasing an additional 4,377,402 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Carrier Global by 1,742.8% during the 2nd 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 period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Down 1.0%

NYSE:CARR traded down $0.62 on Wednesday, reaching $61.68. The company's stock had a trading volume of 5,224,869 shares, compared to its average volume of 5,393,241. Carrier Global has a 12-month low of $54.22 and a 12-month high of $83.32. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The firm has a market cap of $52.49 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.76 and a beta of 1.25. The stock has a 50 day moving average price of $69.64 and a 200 day moving average price of $68.11.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, equities analysts anticipate that Carrier Global will post 2.99 EPS for the current fiscal year.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.