This trade activity should not be overlooked: Carrier Global Corporation (CARR)

Carrier Global Corporation (NYSE: CARR) stock fell -0.87% on Thursday to $54.76 against a previous-day closing price of $55.24. With 5.5 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.05 million shares. During the session, the Building Products & Equipment company that operates in wider Industrials sector, reached to the highest price of $55.79 whereas the lowest price it dropped to was $53.63. The 52-week range on CARR shows that it touched its highest point at $60.04 and its lowest point at $33.10 during that stretch. It currently has a 1-year price target of $60.65. With its current market cap of 44.77 billion, CARR has annualized dividend of $0.74 while the current yield stands at 1.35%. Beta for the stock currently stands at 1.26.

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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 -4.35%, but this was down by -1.17% over a month. Three-month performance surged to 18.63% while six-month performance rose 26.44%. The stock gained 33.95% in the past year, while it has gained 32.75% so far this year. A look at the trailing 12-month EPS for CARR yields 2.52 with Next year EPS estimates of 2.86. For the next quarter, that number is 0.79. This implies an EPS growth rate of 119.60% for this year and 8.67% for next year. EPS is expected to grow by 9.11% 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, 837.63 million CARR shares are outstanding with a float of 836.47 million shares on hand for trading. On Aug 30, 2023, short shares totaled 28.3 million, which was 3.38% higher than short shares on Jul 30, 2023. In addition to Mr. David L. Gitlin as the firm’s Chairman & CEO, Mr. Patrick P. Goris serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 89.33% of CARR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 65.31% of CARR, in contrast to 28.94% held by mutual funds. Shares owned by individuals account for 0.14%. As the largest shareholder in CARR with 10.84% of the stake, The Vanguard Group, Inc. holds 90,792,163 shares worth 90,792,163. A second-largest stockholder of CARR, Capital Research & Management Co, holds 86,117,309 shares, controlling over 10.28% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in CARR, holding 80,757,252 shares or 9.64% stake. With a 5.96% stake in CARR, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 49,936,399 shares are owned by the mutual fund manager. The American Funds Investment Company, which owns about 3.64% of CARR stock, is the second-largest Mutual Fund holder. It holds 30,476,897 shares valued at 1.81 billion. American Balanced Fund holds 3.18% of the stake in CARR, owning 26,629,472 shares worth 1.59 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 Jun 29, 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.

Analysts Ratings:

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 $67.00 and a low target of $46.00, the average target price over the next 12 months is $59.73. Based on these targets, CARR could surge 22.35% to reach the target high and fall by -16.0% to reach the target low. Reaching the average price target will result in a growth of 9.08% 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 3 Buys and 11 Sells. In these transactions, 282,611 shares were bought while 315,611 shares were sold. The number of buy transactions has increased to 38 while that of sell transactions has risen to 63 over the past year. The total number of shares bought during that period was 2,086,090 while 1,708,103 shares were sold.

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