Carrier Global Co. (NYSE:CARR) Receives Average Recommendation of "Moderate Buy" from Analysts

Carrier Global Co. (NYSE:CARR - Get Free Report) has received an average rating of "Moderate Buy" from the seventeen ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $82.53.

Several equities analysts have weighed in on CARR shares. Wells Fargo & Company reduced their price objective on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised Carrier Global from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $77.00 to $78.00 in a research report on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on Carrier Global in a research report on Thursday, December 12th. They issued a "buy" rating and a $96.00 target price for the company. Royal Bank of Canada decreased their target price on Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, February 12th. Finally, Wolfe Research raised Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research report on Monday, February 24th.

Institutional Investors Weigh In On Carrier Global

Large investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. bought a new stake in Carrier Global during the third quarter worth about $200,000. Natixis Advisors LLC lifted its stake in Carrier Global by 25.6% during the third quarter. Natixis Advisors LLC now owns 280,146 shares of the company's stock worth $22,549,000 after purchasing an additional 57,042 shares during the last quarter. Quest Partners LLC bought a new stake in Carrier Global during the third quarter worth about $373,000. GLOBALT Investments LLC GA lifted its stake in Carrier Global by 16.3% during the third quarter. GLOBALT Investments LLC GA now owns 16,746 shares of the company's stock worth $1,348,000 after purchasing an additional 2,351 shares during the last quarter. Finally, Drive Wealth Management LLC bought a new stake in Carrier Global during the third quarter worth about $215,000. Institutional investors own 91.00% of the company's stock.

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Carrier Global Stock Down 0.4 %

Carrier Global stock traded down $0.28 during midday trading on Wednesday, hitting $66.15. 11,027,218 shares of the stock were exchanged, compared to its average volume of 4,265,199. Carrier Global has a 52-week low of $53.33 and a 52-week high of $83.32. The stock has a market capitalization of $57.15 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The business's 50-day moving average price is $66.32 and its 200-day moving average price is $71.92. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, research analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

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.