Market cap of Carrier Global Corporation [CARR] reaches 45.89B – now what?

Carrier Global Corporation [NYSE: CARR] stock went on an upward path that rose over 4.60% on Thursday, amounting to a one-week price increase of more than 6.16%. The company report on July 29, 2021 that Carrier’s Board Approves $1.75 Billion Share Repurchase Authorization.

On July 27, 2021, Carrier Global Corporation’s (NYSE:CARR) Board of Directors approved a $1.75 billion stock repurchase authorization. Share repurchases may take place from time to time, subject to among other things, market conditions, share price, compliance with securities laws and regulatory requirements and other factors, and at the company’s discretion in the open market or through one or more other public or private transactions. With the remaining portion of the prior authorization, Carrier now has authorization to repurchase about $2 billion. This authorization is a key component of the company’s capital allocation plans, which will also include acquisitions and debt paydown over 12-18 months to help position the company for strategic growth and to generate attractive shareowner returns. The enterprise value from the Chubb sale amounts to $3.1 billion, and as of June 30, 2021, Carrier had $2.6 billion of cash. Carrier will provide additional detail during its earnings call scheduled for July 29, 2021.

About Carrier As the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, Carrier Global Corporation is committed to making the world safer, sustainable and more comfortable for generations to come. From the beginning, we’ve led in inventing new technologies and entirely new industries., we continue to lead because we have a world-class, diverse workforce that puts the customer at the center of everything we do. For more information, visit www.corporate.carrier.com or follow Carrier on social media at @Carrier.

Over the last 12 months, CARR stock rose by 98.45%. The one-year Carrier Global Corporation stock forecast points to a potential downside of -4.62. The average equity rating for CARR stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $45.89 billion, with 869.30 million shares outstanding and 868.43 million shares in the current float. Compared to the average trading volume of 5.33M shares, CARR stock reached a trading volume of 6132710 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Carrier Global Corporation [CARR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CARR shares is $51.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CARR stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Robert W. Baird have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 22, 2021. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on June 23, 2021, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another raise to $45, while Atlantic Equities analysts kept a Neutral rating on CARR stock.

The Average True Range (ATR) for Carrier Global Corporation is set at 1.09, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 2.51. The Price to Book ratio for the last quarter was 7.23, with the Price to Cash per share for the same quarter was set at 3.05. Price to Free Cash Flow for CARR in the course of the last twelve months was 34.25 with Quick ratio for the last quarter at 1.30.

CARR Stock Performance Analysis:

Carrier Global Corporation [CARR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.16. With this latest performance, CARR shares gained by 10.74% in over the last four-week period, additionally plugging by 41.20% over the last 6 months – not to mention a rise of 98.45% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CARR stock in for the last two-week period is set at 74.88, with the RSI for the last a single of trading hit 78.39, and the three-weeks RSI is set at 72.11 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 47.53, while it was recorded at 52.18 for the last single week of trading, and 41.23 for the last 200 days.

Insight into Carrier Global Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Carrier Global Corporation [CARR] shares currently have an operating margin of +11.17 and a Gross Margin at +29.38. Carrier Global Corporation’s Net Margin is presently recorded at +11.35.

Return on Total Capital for CARR is now 11.74, given the latest momentum, and Return on Invested Capital for the company is 12.47. Return on Equity for this stock inclined to 19.48, with Return on Assets sitting at 8.35. When it comes to the capital structure of this company, Carrier Global Corporation [CARR] has a Total Debt to Total Equity ratio set at 176.42. Additionally, CARR Total Debt to Total Capital is recorded at 63.82, with Total Debt to Total Assets ending up at 43.96. Long-Term Debt to Equity for the company is recorded at 170.79, with the Long-Term Debt to Total Capital now at 61.79.

Reflecting on the efficiency of the workforce at the company, Carrier Global Corporation [CARR] managed to generate an average of $35,393 per employee. Receivables Turnover for the company is 5.15 with a Total Asset Turnover recorded at a value of 0.74.Carrier Global Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.60.

CARR Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CARR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Carrier Global Corporation go to 17.32%.

Carrier Global Corporation [CARR] Insider Position Details

There are presently around $39,855 million, or 86.60% of CARR stock, in the hands of institutional investors. The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 89,217,748, which is approximately 1.214% of the company’s market cap and around 0.07% of the total institutional ownership; BLACKROCK INC., holding 65,748,128 shares of the stock with an approximate value of $3.55 billion in CARR stocks shares; and STATE STREET CORP, currently with $3.03 billion in CARR stock with ownership of nearly -18.343% of the company’s market capitalization.

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Positions in Carrier Global Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 496 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 80,290,705 shares. Additionally, 601 investors decreased positions by around 79,080,998 shares, while 230 investors held positions by with 579,506,889 shares. The mentioned changes placed institutional holdings at 738,878,592 shares, according to the latest SEC report filing. CARR stock had 110 new institutional investments in for a total of 13,347,518 shares, while 91 institutional investors sold positions of 7,080,797 shares during the same period.

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