Carrier Global (NYSE:CARR) Given New $65.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its price target for Carrier Global from $75.00 to $65.00, with an "equal weight" rating, indicating a potential upside of 7.85% from the stock's previous close.
• Carrier Global has received varying price targets from several analysts, with a consensus rating of "Moderate Buy" and an average price target of $78.47.
• As of the latest report, Carrier Global's stock is trading at around $60.27, with a 1-year range between $54.22 and $83.32.

Carrier Global (NYSE:CARR - Get Free Report) had its price target dropped by analysts at Wells Fargo & Company from $75.00 to $65.00 in a report released on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 7.85% from the stock's previous close.

CARR has been the topic of a number of other research reports. Mizuho dropped their price objective on shares of Carrier Global from $88.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. The Goldman Sachs Group cut their price target on Carrier Global from $88.00 to $76.00 and set a "buy" rating on the stock in a research note on Friday, September 12th. Citigroup dropped their price objective on Carrier Global from $89.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, September 12th. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a report on Tuesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Carrier Global from $73.00 to $70.00 and set a "hold" rating for the company in a research note on Tuesday, September 23rd. Twelve equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and an average price target of $78.47.

Carrier Global Price Performance

Carrier Global stock opened at $60.27 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. The company has a market cap of $51.29 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.86 and a beta of 1.25. Carrier Global has a 1 year low of $54.22 and a 1 year high of $83.32. The firm has a 50 day moving average price of $64.27 and a 200 day moving average price of $67.50.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion for 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. Sell-side analysts predict that Carrier Global will post 2.99 earnings per share for the current year.

Hedge Funds Weigh In On Carrier Global

Several large investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its position in shares of Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after acquiring an additional 1,850 shares during the last quarter. NBC Securities Inc. increased its stake in Carrier Global by 166,400.0% in the 1st quarter. NBC Securities Inc. now owns 1,665 shares of the company's stock worth $105,000 after purchasing an additional 1,664 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Carrier Global by 4.1% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 6,898 shares of the company's stock worth $437,000 after buying an additional 273 shares during the period. OLD National Bancorp IN lifted its stake in Carrier Global by 3.4% during the first quarter. OLD National Bancorp IN now owns 8,204 shares of the company's stock valued at $520,000 after buying an additional 272 shares in the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Carrier Global by 35.3% in the first quarter. Park Avenue Securities LLC now owns 41,170 shares of the company's stock worth $2,610,000 after acquiring an additional 10,750 shares in the last quarter. Institutional investors own 91.00% of the company's stock.

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.

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