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

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

A number of other research firms have also commented on CARR. Stephens dropped their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Barclays cut their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Citigroup lowered their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday. Robert W. Baird cut their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Wells Fargo & Company reduced their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Trading Up 1.9 %

CARR opened at $68.36 on Wednesday. The firm 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 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 firm’s fifty day moving average is $72.34 and its two-hundred day moving average is $72.17.

Carrier Global declared that its board has authorized a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently modified their holdings of CARR. FSA Wealth Management LLC bought a new stake in Carrier Global in the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. increased its holdings in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co acquired a new stake in Carrier Global during the 3rd quarter valued at $37,000. Country Trust Bank bought a new position in Carrier Global during the third quarter worth $40,000. Finally, Capital Performance Advisors LLP bought a new position in Carrier Global during the third quarter worth $44,000. 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.