Carrier Global (NYSE:CARR) Price Target Cut to $75.00 by Analysts at Wells Fargo & Company

Carrier Global (NYSE:CARR) had its price target decreased by analysts at Wells Fargo & Company from $80.00 to $75.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 9.75% from the company’s current price.

Other analysts also recently issued reports about the company. Stephens reduced their price target on 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. Bank of America boosted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Royal Bank of Canada lowered their price target on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Mizuho boosted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Northcoast Research assumed coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.21.

Carrier Global Stock Up 0.2 %

Carrier Global stock opened at $68.34 on Tuesday. Carrier Global has a twelve month low of $53.13 and a twelve month high of $83.32. The stock has a market cap of $61.32 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.73 and a beta of 1.36. The company’s 50-day moving average price is $72.76 and its two-hundred day moving average price is $71.99. 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 approved a stock buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FSM Wealth Advisors LLC increased its position in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares in the last quarter. Meridian Wealth Management LLC increased its holdings in shares of 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 buying an additional 137 shares in the last quarter. Essex Savings Bank increased its holdings in shares of Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after buying an additional 144 shares in the last quarter. 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 acquiring an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC boosted 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 valued at $257,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

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.