Carrier Global (NYSE:CARR) Price Target Lowered to $76.00 at Royal Bank of Canada

Carrier Global (NYSE:CARR - Get Free Report) had its price target dropped by stock analysts at Royal Bank of Canada from $86.00 to $76.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank of Canada's price target suggests a potential upside of 16.58% from the company's current price.

Several other brokerages have also recently commented on CARR. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a "buy" rating and a $96.00 target price on the stock. Citigroup decreased their target price on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company cut their price target on shares of Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Wednesday. Northcoast Research began coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Finally, UBS Group raised Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.64.

Carrier Global Stock Up 2.4 %

CARR traded up $1.52 during trading on Wednesday, reaching $65.19. The company had a trading volume of 6,750,573 shares, compared to its average volume of 5,689,759. The business's fifty day moving average price is $68.17 and its 200 day moving average price is $72.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a market cap of $58.49 billion, a P/E ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the previous year, the firm posted $0.53 EPS. Equities analysts anticipate that Carrier Global will post 2.52 EPS for the current year.

Carrier Global declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FSM Wealth Advisors LLC increased its position in Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company's stock valued at $513,000 after acquiring an additional 136 shares during the last quarter. Meridian Wealth Management LLC increased its position in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company's stock worth $485,000 after purchasing an additional 137 shares during the last quarter. UMB Bank n.a. raised its position in shares of Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company's stock valued at $907,000 after buying an additional 143 shares in the last quarter. Essex Savings Bank lifted its holdings in shares of Carrier Global by 2.2% in 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 during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in Carrier Global by 2.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company's stock valued at $403,000 after acquiring an additional 147 shares during the period. Institutional investors own 91.00% of the company's stock.

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.