Carrier Global (NYSE:CARR) Given New $90.00 Price Target at Citigroup

Carrier Global (NYSE:CARR) had its price objective lowered by stock analysts at Citigroup from $94.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 31.66% from the company’s current price.

CARR has been the topic of several other research reports. JPMorgan Chase & Co. assumed coverage on Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective on the stock. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Northcoast Research began coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Stephens decreased 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 report on Monday, October 28th. Finally, Oppenheimer raised their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.36.

Carrier Global Stock Performance

Shares of CARR stock opened at $68.36 on Monday. The stock has a market cap of $61.33 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36. Carrier Global has a 52-week low of $53.13 and a 52-week high of $83.32. The business has a 50-day simple moving average of $72.34 and a 200-day simple moving average of $72.17. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global declared that its Board of Directors has authorized a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Carrier Global

Several institutional investors and hedge funds have recently bought and sold shares of the company. FSM Wealth Advisors LLC raised its position in shares of Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares during the period. Meridian Wealth Management LLC increased its stake in Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after acquiring an additional 137 shares during the last quarter. Essex Savings Bank raised its position in Carrier Global by 2.2% in the third 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 period. Boston Financial Mangement LLC lifted its stake in shares of Carrier Global by 1.7% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after purchasing an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC grew its holdings in shares of Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after purchasing an additional 150 shares during the period. 91.00% of the stock is currently 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.