Carrier Global Corporation [CARR] moved up 2.70: Why It’s Important

Carrier Global Corporation [NYSE: CARR] traded at a high on 01/11/23, posting a 2.70 gain after which it closed the day’ session at $45.19. The company report on December 19, 2022 that Carrier to Expand Its Digital Solutions Available on AWS.

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Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, today announced that it has signed a strategic collaboration agreement with Amazon Web Services, Inc. (AWS), to offer additional industry-leading Software-as-a-Service (SaaS) solutions in AWS Marketplace. These solutions will include SaaS offerings in the areas of HVAC performance, sustainability, and safety and security. The collaboration is part of Carrier’s growing investment in digitally enabled lifecycle solutions designed to inspire confidence in the health and safety of indoor environments.

“Carrier is already delivering digital solutions like Abound and Lynx to its building and cold chain customers on AWS, and we see tremendous industry opportunities to do even more together,” said Bobby George, Senior Vice President & Chief Digital Officer, Carrier. “The strategic collaboration agreement between Carrier and AWS is a multi-year engagement that brings investments together to accelerate our digital capabilities, our go-to-market initiatives and deliver even more value to our customers through digital solutions.”.

The results of the trading session contributed to over 5300268 shares changing hands. Over the past one week, the price volatility of Carrier Global Corporation stands at 2.68% while the volatility over the past one month is 2.26%.

The market cap for CARR stock reached $36.39 billion, with 839.60 million shares outstanding and 835.49 million shares in the current float. Compared to the average trading volume of 4.02M shares, CARR reached a trading volume of 5300268 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $45.90 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.

KeyBanc Capital Markets have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Sector Weight, with their previous recommendation back on December 13, 2022. The new note on the price target was released on May 18, 2022, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another drop from $56 to $50, while Wells Fargo kept a Equal Weight rating on CARR stock. On February 09, 2022, analysts decreased their price target for CARR shares from 58 to 54.

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 1.78. The Price to Book ratio for the last quarter was 5.30, with the Price to Cash per share for the same quarter was set at 3.71. Price to Free Cash Flow for CARR in the course of the last twelve months was 52.43 with Quick ratio for the last quarter at 1.20.

How has CARR stock performed recently?

Carrier Global Corporation [CARR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.52. With this latest performance, CARR shares gained by 5.04% in over the last four-week period, additionally plugging by 26.48% over the last 6 months – not to mention a drop of -13.63% 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 65.79, with the RSI for the last a single of trading hit 72.81, and the three-weeks RSI is set at 62.04 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 42.64, while it was recorded at 43.47 for the last single week of trading, and 40.00 for the last 200 days.

Carrier Global Corporation [CARR]: Deeper insight into the 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 1.60.

Earnings analysis for Carrier Global Corporation [CARR]

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 9.50%.

Insider trade positions for Carrier Global Corporation [CARR]

There are presently around $32,415 million, or 87.90% of CARR stock, in the hands of institutional investors. The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 92,755,404, which is approximately 0.037% of the company’s market cap and around 0.09% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 82,377,349 shares of the stock with an approximate value of $3.72 billion in CARR stocks shares; and CAPITAL WORLD INVESTORS, currently with $3.4 billion in CARR stock with ownership of nearly -0.461% of the company’s market capitalization.

Positions in Carrier Global Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 460 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 30,760,089 shares. Additionally, 555 investors decreased positions by around 32,409,675 shares, while 231 investors held positions by with 654,143,295 shares. The mentioned changes placed institutional holdings at 717,313,059 shares, according to the latest SEC report filing. CARR stock had 85 new institutional investments in for a total of 5,544,738 shares, while 81 institutional investors sold positions of 2,430,306 shares during the same period.

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