Carrier Global Corporation (NYSE: CARR) is 12.75% higher on its value in year-to-date trading and has touched a low of $12.26 and a high of $43.48 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CARR stock was last observed hovering at around $42.69 in the last trading session, with the day’s loss setting it -0.16% off its average median price target of $44.00 for the next 12 months. It is also 19.75% off the consensus price target high of $53.00 offered by 18 analysts, but current levels are -11.92% lower than the price target low of $38.00 for the same period.
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Currently trading at $42.53, the stock is 4.07% and 9.58% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.21 million and changing -0.37% at the moment leaves the stock 24.67% off its SMA200. CARR registered 178.89% gain for a year compared to 6-month gain of 34.97%. The firm has a 50-day simple moving average (SMA 50) of $39.24 and a 200-day simple moving average (SMA200) of $37.22.
The stock witnessed a 14.57% loss in the last 1 month and extending the period to 3 months gives it a 6.19%, and is 0.73% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.79% over the week and 2.74% over the month.
Carrier Global Corporation (CARR) has around 56000 employees, a market worth around $37.15B and $17.46B in sales. Current P/E ratio is 18.97 and Fwd P/E is 19.12. Profit margin for the company is 11.40%. Distance from 52-week low is 246.90% and -2.18% from its 52-week high. The company has generated returns on investments over the last 12 months (13.60%).
Carrier Global Corporation (CARR) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Carrier Global Corporation (CARR) is a “Overweight”. 18 analysts offering their recommendations for the stock have an average rating of 2.10, where 5 rate it as a Hold and 1 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Carrier Global Corporation is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.37 with sales reaching $4.36B over the same period.The EPS is expected to shrink by -7.80% this year, but quarterly earnings will post 7.80% year-over-year. Quarterly sales are estimated to grow 12.00% in year-over-year returns.
Carrier Global Corporation (CARR) Top Institutional Holders
1,523 institutions hold shares in Carrier Global Corporation (CARR), with 530.22k shares held by insiders accounting for 0.06% while institutional investors hold 86.31% of the company’s shares. The shares outstanding are 869.28M, and float is at 868.41M with Short Float at 1.35%. Institutions hold 86.26% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 88.15 million shares valued at $3.32 billion. The investor’s holdings represent 10.14% of the CARR Shares outstanding. As of Dec 30, 2020, the second largest holder is State Street Corporation with 68.82 million shares valued at $2.6 billion to account for 7.92% of the shares outstanding. The other top investors are Blackrock Inc. which holds 67.42 million shares representing 7.76% and valued at over $2.54 billion, while Capital Research Global Investors holds 5.67% of the shares totaling 49.26 million with a market value of $1.86 billion.
Carrier Global Corporation (CARR) Insider Activity
A total of 59 insider transactions have happened at Carrier Global Corporation (CARR) in the last six months, with sales accounting for 32 and purchases happening 27 times. The most recent transaction is an insider sale by Timperman Jurgen ,the company’sPresident, Fire & Security. SEC filings show that Timperman Jurgen sold 27,486 shares of the company’s common stock on Mar 12 at a price of $39.23 per share for a total of $1.08 million. Following the sale, the insider now owns 0.0 shares.
Carrier Global Corporation disclosed in a document filed with the SEC on Feb 23 that Timperman Jurgen (President, Fire & Security) sold a total of 11 shares of the company’s common stock. The trade occurred on Feb 23 and was made at $37.10 per share for $408.0. Following the transaction, the insider now directly holds 0.0 shares of the CARR stock.
Still, SEC filings show that on Feb 11, Crockett Kyle (Vice President, Controller) disposed off 3,578 shares at an average price of $36.87 for $0.13 million. The insider now directly holds 12 shares of Carrier Global Corporation (CARR).