Barclays Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price objective cut by Barclays from $92.00 to $90.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 31.69% from the company’s current price.

A number of other analysts have also recently issued reports on CARR. Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. The Goldman Sachs Group assumed coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Oppenheimer boosted their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada lowered their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.21.

Carrier Global Trading Up 0.2 %

Carrier Global stock opened at $68.34 on Wednesday. Carrier Global has a 12-month low of $53.13 and a 12-month high of $83.32. The firm has a market capitalization of $61.32 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 2.73 and a beta of 1.36. The firm has a 50 day moving average of $72.67 and a 200 day moving average of $71.97. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its board has initiated a share buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Carrier Global

Several institutional investors have recently bought and sold shares of CARR. First Hawaiian Bank raised its position in shares of Carrier Global by 6.4% during the 4th quarter. First Hawaiian Bank now owns 18,441 shares of the company’s stock valued at $1,259,000 after buying an additional 1,114 shares in the last quarter. CWA Asset Management Group LLC increased its stake in Carrier Global by 24.0% during the fourth quarter. CWA Asset Management Group LLC now owns 4,185 shares of the company’s stock worth $286,000 after acquiring an additional 811 shares during the last quarter. Nordea Investment Management AB raised its position in Carrier Global by 10.3% during the fourth quarter. Nordea Investment Management AB now owns 67,949 shares of the company’s stock valued at $4,656,000 after purchasing an additional 6,365 shares during the period. GAMMA Investing LLC lifted its stake in shares of Carrier Global by 2.5% in the 4th quarter. GAMMA Investing LLC now owns 14,820 shares of the company’s stock valued at $1,012,000 after purchasing an additional 364 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Carrier Global by 141.5% in the 4th quarter. Versant Capital Management Inc now owns 1,181 shares of the company’s stock worth $81,000 after purchasing an additional 692 shares during the period. 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.