Carrier Global (NYSE:CARR) Given New $76.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs has lowered Carrier Global's price target from $88.00 to $76.00, maintaining a "buy" rating, which suggests a potential upside of 23.76% from the stock's previous close.
• JPMorgan and Citigroup also provided ratings on Carrier Global, with targets of $79.00 and $89.00 respectively; the consensus target price across analysts stands at $82.12.
• Carrier Global's stock has seen significant trading activity, closing down $0.89 at $61.41 with a recent 52-week range between $54.22 and $83.32.

Carrier Global (NYSE:CARR - Get Free Report) had its price target dropped by equities research analysts at The Goldman Sachs Group from $88.00 to $76.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's target price indicates a potential upside of 23.76% from the stock's previous close.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. restated a "neutral" rating and set a $79.00 price target on shares of Carrier Global in a report on Tuesday, July 15th. Citigroup restated a "buy" rating and set a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Robert W. Baird lowered their price target on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Melius assumed coverage on shares of Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price target for the company. Finally, Barclays lowered their price target on shares of Carrier Global from $82.00 to $74.00 and set an "overweight" rating for the company in a report on Thursday. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.12.

Carrier Global Price Performance

Carrier Global stock traded down $0.89 during trading hours on Friday, reaching $61.41. 2,040,719 shares of the stock were exchanged, compared to its average volume of 5,373,959. The stock has a 50 day moving average of $69.64 and a two-hundred day moving average of $68.11. Carrier Global has a twelve month low of $54.22 and a twelve month high of $83.32. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The company has a market cap of $52.26 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 1.76 and a beta of 1.25.

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

Hedge Funds Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC increased its position in shares of Carrier Global by 9.8% during the second quarter. Valeo Financial Advisors LLC now owns 13,346 shares of the company's stock valued at $977,000 after buying an additional 1,187 shares during the period. Osaic Holdings Inc. increased its position in shares of Carrier Global by 20.9% in the second quarter. Osaic Holdings Inc. now owns 292,728 shares of the company's stock worth $21,194,000 after purchasing an additional 50,619 shares during the last quarter. Centaurus Financial Inc. bought a new position in shares of Carrier Global in the second quarter worth approximately $111,000. Lavaca Capital LLC increased its position in shares of Carrier Global by 31.3% in the second quarter. Lavaca Capital LLC now owns 839 shares of the company's stock worth $61,000 after purchasing an additional 200 shares during the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in shares of Carrier Global by 0.8% in the second quarter. Orion Porfolio Solutions LLC now owns 37,188 shares of the company's stock worth $2,722,000 after purchasing an additional 286 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

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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