JPMorgan Chase & Co. Upgrades Carrier Global (NYSE:CARR) to “Overweight”

Carrier Global (NYSE:CARR) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $78.00 price target on the stock, up from their prior price target of $77.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 19.46% from the stock’s previous close.

A number of other analysts have also commented on CARR. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research report on Friday, February 14th. Royal Bank of Canada lowered their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday, November 13th. Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, The Goldman Sachs Group began coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.53.

Carrier Global Price Performance

Shares of CARR opened at $65.29 on Wednesday. The stock has a market cap of $56.41 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The stock’s 50-day moving average price is $66.71 and its two-hundred day moving average price is $72.25. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global has a 1 year low of $53.33 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the previous year, the business earned $0.53 earnings per share. On average, equities analysts predict that Carrier Global will post 2.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CARR. Meridian Wealth Management LLC boosted its stake in Carrier Global by 2.3% in the third 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 in the last quarter. UMB Bank n.a. increased its position in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after purchasing an additional 143 shares in the last quarter. Essex Savings Bank lifted its stake in Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Carrier Global by 2.6% during the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock worth $403,000 after buying an additional 147 shares during the last quarter. Finally, Sittner & Nelson LLC increased its holdings in shares of Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds 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.