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

Key Points

• JPMorgan Chase & Co. has lowered the price target for Carrier Global stock from $76.00 to $61.00, maintaining a "neutral" rating.
• Multiple analysts have also reduced their target prices, with consensus suggesting a "Moderate Buy" rating and an average target price of $76.68 for the stock.
• Carrier Global recently reported earnings of $0.92 per share, exceeding analyst expectations, and has set its FY 2025 guidance at 3.000-3.100 EPS.

Carrier Global (NYSE:CARR - Get Free Report) had its price target decreased by JPMorgan Chase & Co. from $76.00 to $61.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 6.12% from the company's previous close.

Several other research analysts have also recently issued reports on CARR. Royal Bank Of Canada reduced their target price on shares of Carrier Global from $87.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, September 12th. Mizuho reduced their target price on shares of Carrier Global from $88.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Wolfe Research reduced their target price on shares of Carrier Global from $77.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, October 8th. The Goldman Sachs Group reduced their target price on shares of Carrier Global from $88.00 to $76.00 and set a "buy" rating for the company in a report on Friday, September 12th. Finally, Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a report on Tuesday, July 1st. Eleven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and an average target price of $76.68.

Carrier Global Trading Up 1.1%

NYSE CARR opened at $57.48 on Wednesday. The company has a fifty day simple moving average of $62.65 and a two-hundred day simple moving average of $67.09. The stock has a market cap of $48.92 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.83 and a beta of 1.25. Carrier Global has a 12-month low of $54.22 and a 12-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.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to analysts' expectations 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. On average, analysts forecast that Carrier Global will post 2.99 earnings per share for the current year.

Institutional Trading of Carrier Global

Several institutional investors have recently modified their holdings of the stock. DAVENPORT & Co LLC grew its position in shares of Carrier Global by 1.6% in the third quarter. DAVENPORT & Co LLC now owns 103,622 shares of the company's stock valued at $6,186,000 after purchasing an additional 1,682 shares during the period. Highline Wealth Partners LLC grew its position in shares of Carrier Global by 283.6% in the third quarter. Highline Wealth Partners LLC now owns 633 shares of the company's stock valued at $38,000 after purchasing an additional 468 shares during the period. Welch Group LLC grew its position in shares of Carrier Global by 7.5% in the third quarter. Welch Group LLC now owns 117,455 shares of the company's stock valued at $7,012,000 after purchasing an additional 8,189 shares during the period. OLD National Bancorp IN grew its position in shares of Carrier Global by 7.5% in the third quarter. OLD National Bancorp IN now owns 7,115 shares of the company's stock valued at $425,000 after purchasing an additional 497 shares during the period. Finally, HBK Sorce Advisory LLC grew its position in shares of Carrier Global by 10.6% in the third quarter. HBK Sorce Advisory LLC now owns 15,265 shares of the company's stock valued at $913,000 after purchasing an additional 1,465 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Company Profile

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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