Carrier Global (NYSE:CARR) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Carrier Global Corporation (NYSE:CARR)’s stock price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $56.72 and traded as high as $58.00. Carrier Global shares last traded at $57.8740, with a volume of 4,829,954 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CARR shares. Wolfe Research reissued an “outperform” rating and set a $80.00 price target on shares of Carrier Global in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carrier Global in a report on Friday, October 16th. Royal Bank Of Canada lowered their target price on shares of Carrier Global from $82.00 to $72.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research report on Friday, October 9th. They set a “neutral” rating and a $61.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Carrier Global in a research report on Thursday, September 24th. They set an “overweight” rating and a $67.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.43.

Carrier Global Stock Performance

The business has a 50 day simple moving average of $56.72 and a 200-day simple moving average of $61.71.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. On average, equities research analysts predict that Carrier Global Corporation will post 2.87 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.96 annualized dividend and a yield of 1.7%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CARR. North Dakota State Investment Board lifted its stake in Carrier Global by 2.5% in the third quarter. North Dakota State Investment Board now owns 23,917 shares of the company’s stock valued at $1,312,000 after acquiring an additional 572 shares during the last quarter. VestGen Advisors LLC grew its position in Carrier Global by 16.6% in the third quarter. VestGen Advisors LLC now owns 13,692 shares of the company’s stock worth $751,000 after acquiring an additional 1,946 shares in the last quarter. Generali Asset Management SPA SGR grew its position in Carrier Global by 4.9% in the third quarter. Generali Asset Management SPA SGR now owns 50,691 shares of the company’s stock worth $2,781,000 after acquiring an additional 2,368 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Carrier Global by 1.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 387,894 shares of the company’s stock worth $21,280,000 after purchasing an additional 5,381 shares during the last quarter. Finally, Latitude Advisors LLC bought a new position in shares of Carrier Global during the 3rd quarter valued at $27,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.