Carrier Global Corporation [NYSE: CARR] stock went on a downward path that fall over -1.26% on Tuesday, amounting to a one-week price decrease of less than -8.89%. The company report on October 6, 2022 that Carrier’s EcoEnergy Insights Earns Gold for IoT-Enabled Services at 2022 IoT Innovator Awards.
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BluEdge™ Command Centers recognized with prestigious award in the “Best of IoT – Services” category.
EcoEnergy Insights, a Carrier company and leading provider of Artificial Intelligence (AI) and Internet of Things (IoT)-enabled solutions and services, earned a gold award in the “Best of IoT – Services” category at the 2022 IoT Innovator Awards. The global award recognizes the level of service provided by EcoEnergy Insights-operated BluEdge™ Command Centers, comprised of data scientists and domain experts providing remote commissioning, monitoring, diagnostics and proactive support for building and cold chain operations. EcoEnergy Insights is a part of Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions.
Over the last 12 months, CARR stock dropped by -31.41%. The one-year Carrier Global Corporation stock forecast points to a potential upside of 22.27. The average equity rating for CARR stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $31.16 billion, with 845.70 million shares outstanding and 840.81 million shares in the current float. Compared to the average trading volume of 4.23M shares, CARR stock reached a trading volume of 5111772 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 $45.22 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 2.40. 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.
BofA Securities have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 18, 2022. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $56 to $50. The new note on the price target was released on February 09, 2022, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another drop from $58 to $54, while Morgan Stanley kept a Overweight rating on CARR stock. On February 09, 2022, analysts decreased their price target for CARR shares from 57 to 50.
The Average True Range (ATR) for Carrier Global Corporation is set at 1.24, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 1.53. The Price to Book ratio for the last quarter was 4.44, with the Price to Cash per share for the same quarter was set at 3.40. Price to Free Cash Flow for CARR in the course of the last twelve months was 59.57 with Quick ratio for the last quarter at 1.20.
CARR Stock Performance Analysis:
Carrier Global Corporation [CARR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.89. With this latest performance, CARR shares dropped by -16.88% in over the last four-week period, additionally sinking by -17.18% over the last 6 months – not to mention a drop of -31.41% 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 37.70, with the RSI for the last a single of trading hit 36.27, and the three-weeks RSI is set at 39.27 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 39.86, while it was recorded at 36.30 for the last single week of trading, and 42.00 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 +12.07 and a Gross Margin at +29.15. Carrier Global Corporation’s Net Margin is presently recorded at +8.07.
Return on Equity for this stock inclined to 25.56, with Return on Assets sitting at 6.49.
Carrier Global Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.
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 8.75%.
Carrier Global Corporation [CARR] Insider Position Details
There are presently around $25,559 million, or 88.10% of CARR stock, in the hands of institutional investors. The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 92,720,866, which is approximately 0.872% of the company’s market cap and around 0.09% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 78,121,594 shares of the stock with an approximate value of $2.75 billion in CARR stocks shares; and CAPITAL WORLD INVESTORS, currently with $2.66 billion in CARR stock with ownership of nearly -7.912% of the company’s market capitalization.
Positions in Carrier Global Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 462 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 35,656,057 shares. Additionally, 644 investors decreased positions by around 45,640,043 shares, while 222 investors held positions by with 645,846,496 shares. The mentioned changes placed institutional holdings at 727,142,596 shares, according to the latest SEC report filing. CARR stock had 79 new institutional investments in for a total of 3,993,982 shares, while 152 institutional investors sold positions of 5,266,255 shares during the same period.