The Goldman Sachs Group Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its target price lowered by The Goldman Sachs Group from $72.00 to $68.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 29.81% from the company’s current price.

CARR has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Mizuho decreased their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Barclays dropped their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Finally, Wells Fargo & Company reduced their price target on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating for the company in a research note on Thursday, December 4th. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Carrier Global has an average rating of “Hold” and an average price target of $72.00.

Carrier Global Stock Down 2.0%

CARR stock opened at $52.38 on Tuesday. Carrier Global has a 1-year low of $50.30 and a 1-year high of $81.09. The business’s 50 day simple moving average is $55.50 and its 200 day simple moving average is $63.79. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $44.12 billion, a PE ratio of 11.72, a PEG ratio of 2.32 and a beta of 1.30.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the firm posted $0.83 EPS. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, research analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Carrier Global declared that its Board of Directors has authorized a stock buyback plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Carrier Global

Several large investors have recently modified their holdings of CARR. Vanguard Group Inc. lifted its position in Carrier Global by 0.5% during the second quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock worth $6,833,980,000 after purchasing an additional 450,594 shares during the period. Capital International Investors raised its position in shares of Carrier Global by 6.7% in the 3rd quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock valued at $3,461,142,000 after buying an additional 3,630,524 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after acquiring an additional 7,409,432 shares during the period. State Street Corp boosted its position in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,377,339 shares of the company’s stock worth $1,992,627,000 after acquiring an additional 473,692 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Carrier Global by 0.6% in the third quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock valued at $903,807,000 after acquiring an additional 90,585 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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.