Carrier Global (NYSE:CARR) Stock Gets Price Target Cut from Sanford C. Bernstein

Carrier Global (NYSE:CARR) had its target price lowered by Sanford C. Bernstein from $78.00 to $64.00 in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a market perform rating on the stock.

CARR has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Wells Fargo & Company started coverage on shares of Carrier Global in a report on Thursday, September 24th. They issued an “overweight” rating and a $67.00 price target on the stock. Citigroup boosted their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Wolfe Research reissued an “outperform” rating and set a $80.00 price objective on shares of Carrier Global in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, September 30th. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.93.

Carrier Global Stock Down 0.5%

CARR opened at $55.55 on Wednesday. Carrier Global has a 12 month low of $50.24 and a 12 month high of $76.76. The business has a 50-day moving average of $58.55 and a two-hundred day moving average of $62.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The stock has a market capitalization of $45.79 billion, a price-to-earnings ratio of 38.58, a price-to-earnings-growth ratio of 1.91 and a beta of 1.29.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the firm posted $0.92 EPS. The company’s 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, research analysts expect that Carrier Global will post 2.87 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, October 29th. Carrier Global’s dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Carrier Global in the second quarter valued at about $590,759,000. Bank of America Corp DE acquired a new position in Carrier Global during the 2nd quarter worth approximately $572,908,000. Dimensional Fund Advisors LP boosted its holdings in Carrier Global by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock worth $354,188,000 after acquiring an additional 246,723 shares during the period. Legal & General Group Plc purchased a new position in Carrier Global in the 2nd quarter worth approximately $322,366,000. Finally, Primecap Management Co. CA acquired a new stake in Carrier Global in the second quarter valued at approximately $283,585,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.