Fintel reports that on September 14, 2023, Mizuho downgraded their outlook for Carrier Global (NYSE:CARR) from Buy to Neutral.

Analyst Price Forecast Suggests 11.23% Upside

As of August 31, 2023, the average one-year price target for Carrier Global is 61.45. The forecasts range from a low of 47.47 to a high of $70.35. The average price target represents an increase of 11.23% from its latest reported closing price of 55.24.

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The projected annual revenue for Carrier Global is 22,109MM, an increase of 1.32%. The projected annual non-GAAP EPS is 2.58.

What is the Fund Sentiment?

There are 1973 funds or institutions reporting positions in Carrier Global. This is a decrease of 24 owner(s) or 1.20% in the last quarter. Average portfolio weight of all funds dedicated to CARR is 0.24%, a decrease of 0.74%. Total shares owned by institutions increased in the last three months by 6.23% to 986,782K shares. The put/call ratio of CARR is 1.63, indicating a bearish outlook.

What are Other Shareholders Doing?

Capital Research Global Investors holds 83,180K shares representing 9.93% ownership of the company. In it’s prior filing, the firm reported owning 77,076K shares, representing an increase of 7.34%. The firm increased its portfolio allocation in CARR by 10.10% over the last quarter.

Capital World Investors holds 80,757K shares representing 9.64% ownership of the company. In it’s prior filing, the firm reported owning 72,760K shares, representing an increase of 9.90%. The firm increased its portfolio allocation in CARR by 12.22% over the last quarter.

Capital International Investors holds 78,136K shares representing 9.33% ownership of the company. In it’s prior filing, the firm reported owning 56,607K shares, representing an increase of 27.55%. The firm increased its portfolio allocation in CARR by 40.67% over the last quarter.

AGTHX – GROWTH FUND OF AMERICA holds 48,605K shares representing 5.80% ownership of the company. In it’s prior filing, the firm reported owning 48,131K shares, representing an increase of 0.98%. The firm decreased its portfolio allocation in CARR by 12.92% over the last quarter.

AIVSX – INVESTMENT CO OF AMERICA holds 30,477K shares representing 3.64% ownership of the company. In it’s prior filing, the firm reported owning 28,875K shares, representing an increase of 5.26%. The firm increased its portfolio allocation in CARR by 6.60% over the last quarter.

Carrier Global Background Information
(This description is provided by the company.)

Founded by the inventor of modern air conditioning, Carrier is a world leader in high-technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy-efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. Carrier is a part of Carrier Global Corporation, the leading global provider of healthy, safe and sustainable building and cold chain solutions.

This article originally appeared on Fintel