Is Carrier Global Corp (NYSE: CARR) Back In The Buying Zone?

Currently, there are 839.91M common shares owned by the public and among those 833.00M shares have been available to trade.

Insiders at the company have transacted a total of 42 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 1,207,081 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 954,988 shares.

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However, the script later moved the day high at 54.73, down -3.69%. The company’s stock has a 5-day price change of -0.63% and 4.80% over the past three months. CARR shares are trading -6.06% year to date (YTD), with the 12-month market performance up to 20.39% higher. It has a 12-month low price of $40.28 and touched a high of $60.04 over the same period. CARR has an average intraday trading volume of 1.30 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.97%, -3.24%, and 3.73% respectively.

Institutional ownership of Carrier Global Corp (NYSE: CARR) shares accounts for 86.15% of the company’s 839.91M shares outstanding.

It has a market capitalization of $48.48B and a beta (3y monthly) value of 1.27. The stock’s trailing 12-month PE ratio is 34.14, while the earnings-per-share (ttm) stands at $1.58. The company has a PEG of 3.68 and a Quick Ratio of 2.40 with the debt-to-equity ratio at 1.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.87% over the week and 2.41% over the month.

Earnings per share for the fiscal year are expected to increase by 3.93%, and 8.85% over the next financial year. EPS should grow at an annualized rate of 9.27% over the next five years, compared to -12.91% over the past 5-year period.

Looking at the support for the CARR, a number of firms have released research notes about the stock. Wolfe Research stated their Underperform rating for the stock in a research note on October 12, 2023, with the firm’s price target at $56.

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