JPMorgan Chase & Co. Lowers Carrier Global (NYSE:CARR) Price Target to $77.00

Carrier Global (NYSE:CARR) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $83.00 to $77.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 12.64% from the company’s previous close.

A number of other research firms have also recently issued reports on CARR. Northcoast Research initiated coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Stephens dropped 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. Wells Fargo & Company decreased their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Finally, Citigroup decreased their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Stock Up 1.9 %

NYSE CARR opened at $68.36 on Wednesday. Carrier Global has a twelve month low of $53.13 and a twelve month high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $61.33 billion, a PE ratio of 17.31, a PEG ratio of 2.73 and a beta of 1.36. The firm has a 50-day simple moving average of $72.34 and a 200 day simple moving average of $72.17.

Carrier Global declared that its board has initiated a stock 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 typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Carrier Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after purchasing an additional 469,108 shares during the last quarter. Geode Capital Management LLC boosted its stake in Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after acquiring an additional 289,439 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after acquiring an additional 269,538 shares during the period. FMR LLC raised its position in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Carrier Global by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after purchasing an additional 110,988 shares during the period. 91.00% of the stock is owned by institutional investors.

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.