Carrier Global Corporation [CARR] moved up 2.48: Why It’s Important


Carrier Global Corporation [NYSE: CARR] surged by $1.3 during the normal trading session on Tuesday and reaching a high of $54.64 during the day while it closed the day at $53.82. The company report on January 4, 2022 that Kidde Innovates with Easy-to-Use Smart Smoke + Carbon Monoxide Detection Solution.

Newly released Wi-Fi capable alarm and app offer smarter control for households with interconnected Kidde alarms.

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A trusted leader in fire safety for over 100 years, Kidde today announced the launch of its latest innovation – the Smoke + Carbon Monoxide Alarm with smart features and corresponding new mobile app. Designed for Wi-Fi connectivity, the alarm and app function not only as a standalone safety solution, but, notably, is the first smart system that can transform existing Kidde hardwired interconnected alarms into smart ones with an easy and fully integrated solution that offers whole-home protection.** Kidde is a part of Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions.

Carrier Global Corporation stock has also gained 0.64% of its value over the past 7 days. However, CARR stock has inclined by 1.89% in the 3 months of the year. Over the past six months meanwhile, it has gained 10.22% and lost -0.77% year-on date.

The market cap for CARR stock reached $46.05 billion, with 867.60 million shares outstanding and 866.03 million shares in the current float. Compared to the average trading volume of 3.44M shares, CARR reached a trading volume of 5445250 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $59.43 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 2.10. 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.

Vertical Research have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 03, 2022. While these analysts kept the previous recommendation, Mizuho raised their target price to Neutral. The new note on the price target was released on December 17, 2021, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another drop from $58 to $56, while Deutsche Bank kept a Hold rating on CARR stock.

The Average True Range (ATR) for Carrier Global Corporation is set at 1.35, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 2.29. The Price to Book ratio for the last quarter was 6.77, with the Price to Cash per share for the same quarter was set at 3.12. Price to Free Cash Flow for CARR in the course of the last twelve months was 59.41 with Quick ratio for the last quarter at 1.50.

CARR stock trade performance evaluation

Carrier Global Corporation [CARR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.64. With this latest performance, CARR shares dropped by -4.10% in over the last four-week period, additionally plugging by 10.22% over the last 6 months – not to mention a rise of 41.86% 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 49.81, with the RSI for the last a single of trading hit 51.59, and the three-weeks RSI is set at 49.38 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 54.31, while it was recorded at 53.57 for the last single week of trading, and 50.54 for the last 200 days.

Carrier Global Corporation [CARR]: An insightful look at the core fundamentals

Carrier Global Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.90.

Earnings per share (EPS) analysis for Carrier Global Corporation [CARR] stock

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 14.91%.

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Carrier Global Corporation [CARR]: Insider Ownership positions

There are presently around $38,871 million, or 88.30% of CARR stock, in the hands of institutional investors. The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 91,686,511, which is approximately 1.969% of the company’s market cap and around 0.07% of the total institutional ownership; BLACKROCK INC., holding 60,571,076 shares of the stock with an approximate value of $3.18 billion in CARR stocks shares; and CAPITAL WORLD INVESTORS, currently with $3.17 billion in CARR stock with ownership of nearly 29.912% of the company’s market capitalization.

528 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 45,112,308 shares. Additionally, 562 investors decreased positions by around 36,884,705 shares, while 242 investors held positions by with 658,125,709 shares. The mentioned changes placed institutional holdings at 740,122,722 shares, according to the latest SEC report filing. CARR stock had 107 new institutional investments in for a total of 5,802,702 shares, while 76 institutional investors sold positions of 6,020,072 shares during the same period.