Carrier Global Corporation (NYSE: CARR) stock fell -0.24% on Thursday to $41.20 against a previous-day closing price of $41.30. With 5.39 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.81 million shares. During the session, the Building Products & Equipment company that operates in wider Industrials sector, reached to the highest price of $41.69 whereas the lowest price it dropped to was $40.99. The 52-week range on CARR shows that it touched its highest point at $49.17 and its lowest point at $33.10 during that stretch. It currently has a 1-year price target of $48.37. With its current market cap of 34.78 billion, CARR has annualized dividend of $0.74 while the current yield stands at 1.80%.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CARR was down-trending over the past week, with a drop of -4.78%, but this was up by 1.35% over a month. Three-month performance dropped to -6.89% while six-month performance fell -6.45%. The stock gained 8.59% in the past year, while it has lost -0.12% so far this year. A look at the trailing 12-month EPS for CARR yields 2.95 with Next year EPS estimates of 2.79. For the next quarter, that number is 0.77. This implies an EPS growth rate of 119.60% for this year and 8.39% for next year. EPS is expected to grow by 12.07% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 23.70%.
Float and Shares Shorts:
At present, 835.00 million CARR shares are outstanding with a float of 826.32 million shares on hand for trading. On May 14, 2023, short shares totaled 20.06 million, which was 2.40% higher than short shares on Apr 13, 2023. In addition to Mr. David L. Gitlin as the firm’s Chairman & CEO, Mr. Patrick P. Goris serves as its Sr. VP & CFO.
Through their ownership of 87.74% of CARR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.79% of CARR, in contrast to 29.57% held by mutual funds. Shares owned by individuals account for 0.16%. As the largest shareholder in CARR with 10.91% of the stake, The Vanguard Group, Inc. holds 91,110,692 shares worth 91,110,692. A second-largest stockholder of CARR, Capital Research & Management Co, holds 77,075,769 shares, controlling over 9.23% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in CARR, holding 72,760,311 shares or 8.72% stake. With a 5.74% stake in CARR, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 47,883,287 shares are owned by the mutual fund manager. The American Funds Investment Company, which owns about 3.46% of CARR stock, is the second-largest Mutual Fund holder. It holds 28,875,226 shares valued at 1.21 billion. Vanguard Total Stock Market ETF holds 3.11% of the stake in CARR, owning 25,925,567 shares worth 1.08 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CARR reported revenue of $5.21B and operating income of $711.00M. The EBITDA in the recently reported quarter was $901.00M and diluted EPS was $0.67.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CARR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CARR analysts setting a high price target of $55.00 and a low target of $44.00, the average target price over the next 12 months is $48.41. Based on these targets, CARR could surge 33.5% to reach the target high and rise by 6.8% to reach the target low. Reaching the average price target will result in a growth of 17.5% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CARR stock several times over the past three months with 1 Buys and 4 Sells. In these transactions, 6,469 shares were bought while 23,213 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 44 over the past year. The total number of shares bought during that period was 1,080,368 while 856,461 shares were sold.