Capital Research & Management Co has recently announced that it has increased stake in Carrier Global Corp (NYSE:CARR) by 8.04%. After grabbing 89.87 million shares, the institutional investor is now in possession of 6.69 million shares of the Industrials Company. The new investment brought the stake of investor firm to 10.71% having worth around $5.16 billion. Moreover, Capital Research & Management Co increased its share by 3.18 million to have a control over 83.8 million shares. And BlackRock Fund Advisors raised its holdings to 0.25 million shares by acquiring 38.89 million shares or 4.64% of the stake.
Carrier Global Corp (CARR) concluded trading on Thursday at a closing price of $56.31, with 3.03 million shares of worth about $170.63 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 3.45% during that period and on Thursday, January 25 the price saw a gain of about 2.44%. Currently the company’s common shares owned by public are about 834.66M shares, out of which, 778.26M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 81 times over the past 12 months. They bought 1,843,632 shares in 32 of the transactions. In 49 selling transactions, insiders dumped 1,458,190 shares.
American Funds Growth Fund of Ame, American Funds Investment Company, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Carrier Global Corp American Funds Growth Fund of Ame is currently holding 44.81 million shares of worth totaling $2.57 billion. The company recently came selling -5.66 million shares which brought its stake up to 5.34% of the company’s outstanding shares. American Funds Investment Company bought 4.22 million shares, after which its hold over company’s outstanding shares expand to 4.13%, leaving 34.64 million shares with the mutual fund that have a worth of about $1.99 billion. Vanguard Total Stock Market ETF, after buying 26.38 million shares, have now control over 3.14% of the stake in the company. It holds 0.13 million shares of worth $1.52 billion.
However, the stock later moved at a day high price of 56.36, or with a gain of 2.44%. Stock saw a price change of 1.64% in past 5 days and over the past one month there was a price change of -1.38%. Year-to-date (YTD), CARR shares are showing a performance of -1.98% which increased to 28.86% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $40.28 but also hit the highest price of $60.04 during that period. The average intraday trading volume for Carrier Global Corp shares is 3.99 million. The stock is currently trading 0.06% above its 20-day simple moving average (SMA20), while that difference is up 2.48% for SMA50 and it goes to 9.86% higher than SMA200.
Capital Research & Management Co acquired 89.87 million shares of Carrier Global Corp having value of about $5.16 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 6.69 million shares in the company valued at close to $376588216.08, or have control over 8.04% stake in the company. Carrier Global Corp (NYSE: CARR) currently have 834.66M outstanding shares and institutions hold larger chunk of about 94.27% of that. Holding of mutual funds in the company is about 31.17% while other institutional holders and individual stake holders have control over 63.89% and 0.14% of the stake respectively.
The stock has a current market capitalization of $47.25B and its 3Y-monthly beta is at 1.27. PE ratio of stock for trailing 12 months is 40.05, while it has posted earnings per share of $1.41 in the same period. Its PEG reads 4.08 and has Quick Ratio of 1.25 while making debt-to-equity ratio of 1.13. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CARR, volatility over the week remained 1.96% while standing at 1.71% over the month.
Analysts are in expectations that Carrier Global Corp (CARR) stock would likely to be making an EPS of $0.51 in the current quarter, while forecast for next quarter EPS is $0.55 and it is $2.86 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.46 which is $0.55 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.4 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 16.08% while it is estimated to increase by 5.28% in next year. EPS is likely to shrink at an annualized rate of 9.80% for next 5-years, compared to annual growth of 23.71% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wolfe Research on October 12, 2023 offering an Underperform rating for the stock and assigned a target price of $56 to it.
