Royal Bank of Canada Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR - Get Free Report) had its price objective cut by research analysts at Royal Bank of Canada from $87.00 to $86.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective indicates a potential upside of 24.17% from the stock's current price.

A number of other research firms also recently commented on CARR. Bank of America lifted their target price on Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a "buy" rating and a $96.00 target price on the stock. Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an "equal weight" rating and a $75.00 price target on the stock. Finally, Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.43.

Carrier Global Trading Up 1.4 %

Shares of Carrier Global stock traded up $0.93 during mid-day trading on Friday, hitting $69.26. The stock had a trading volume of 3,197,686 shares, compared to its average volume of 3,439,143. The firm has a market cap of $62.14 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average of $73.22 and a two-hundred day moving average of $71.83. Carrier Global has a 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global declared that its board has approved a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Carrier Global

Several large investors have recently bought and sold shares of the business. FSM Wealth Advisors LLC raised its holdings in Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company's stock worth $513,000 after purchasing an additional 136 shares in the last quarter. Meridian Wealth Management LLC grew its position in shares of Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock valued at $485,000 after buying an additional 137 shares during the last quarter. Essex Savings Bank raised its stake in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company's stock worth $532,000 after acquiring an additional 144 shares in the last quarter. Boston Financial Mangement LLC lifted its position in Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company's stock valued at $741,000 after acquiring an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC boosted its stake in Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company's stock valued at $257,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors 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.