Carrier Global Corporation (NYSE:CARR) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Carrier Global “Moderate Buy”: Eleven of 21 brokerages recommend buying the stock, while 10 maintain hold ratings. The average 12-month price target is $70.71, above the reported $54.21 share price.
• Institutional ownership remains high: Hedge funds and other institutional investors own approximately 91% of Carrier Global, with several firms increasing their positions during the third quarter.
• Quarterly results exceeded expectations: Carrier reported $0.86 in earnings per share and $6.35 billion in revenue, beating consensus estimates, while quarterly revenue grew 3.9% year over year. The company also declared a $0.24 quarterly dividend, implying a 1.8% annual yield.

Shares of Carrier Global Corporation (NYSE:CARR - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-one brokerages that are currently covering the company, Marketbeat reports. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $70.71.

CARR has been the topic of a number of recent analyst reports. Wolfe Research reiterated an "outperform" rating and set a $80.00 price target on shares of Carrier Global in a research note on Thursday, July 9th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a report on Friday, October 9th. They set a "neutral" rating and a $61.00 price target for the company. Weiss Ratings restated a "hold (c)" rating on shares of Carrier Global in a research report on Monday, July 20th. Zacks Research downgraded shares of Carrier Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 1st. Finally, The Goldman Sachs Group lowered Carrier Global from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $74.00 to $61.00 in a report on Wednesday.

Institutional Trading of Carrier Global

Several hedge funds have recently modified their holdings of the business. Mather Group LLC. increased its holdings in Carrier Global by 27.5% in the 3rd quarter. Mather Group LLC. now owns 13,360 shares of the company's stock valued at $733,000 after purchasing an additional 2,883 shares in the last quarter. Adirondack Trust Co. raised its position in Carrier Global by 59.9% in the third quarter. Adirondack Trust Co. now owns 4,658 shares of the company's stock valued at $256,000 after purchasing an additional 1,745 shares during the period. First Citizens Bank & Trust Co. raised its position in Carrier Global by 528.5% in the third quarter. First Citizens Bank & Trust Co. now owns 40,866 shares of the company's stock valued at $2,242,000 after purchasing an additional 34,364 shares during the period. MFA Wealth Services lifted its stake in shares of Carrier Global by 4.6% during the third quarter. MFA Wealth Services now owns 5,450 shares of the company's stock worth $299,000 after purchasing an additional 242 shares in the last quarter. Finally, ProCore Advisors LLC lifted its stake in shares of Carrier Global by 13.5% during the third quarter. ProCore Advisors LLC now owns 3,903 shares of the company's stock worth $214,000 after purchasing an additional 465 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR opened at $54.21 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. The stock has a market capitalization of $44.68 billion, a P/E ratio of 37.64, a P/E/G ratio of 1.88 and a beta of 1.29. The company's fifty day moving average is $57.96 and its two-hundred day moving average is $62.84. 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 announced 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 company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. Carrier Global's quarterly 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 predict that Carrier Global will post 2.87 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global's dividend payout ratio is 66.67%.

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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