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

Carrier Global Corporation (NYSE:CARR)’s stock price crossed 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CARR shares. Zacks Research cut shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. Citigroup upped their target price on Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carrier Global in a research report on Friday, October 16th. Finally, Wolfe Research reissued an “outperform” rating and issued a $80.00 price target on shares of Carrier Global in a report on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.43.

Carrier Global Trading Up 2.5%

The firm’s 50-day moving average price is $56.72 and its 200 day moving average price is $61.71.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share 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 analyst estimates of $6.02 billion. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $0.92 EPS. On average, research analysts expect that Carrier Global Corporation will post 2.87 EPS for the current fiscal year.

Carrier Global Dividend Announcement

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

Institutional Investors Weigh In On Carrier Global

Several large investors have recently made changes to their positions in the company. Johnson Financial Group Inc. acquired a new position in shares of Carrier Global during the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in Carrier Global in the 2nd quarter worth approximately $26,000. Financial Management Professionals Inc. grew its holdings in Carrier Global by 142.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after buying an additional 225 shares in the last quarter. Burnham & Co LLC bought a new position in Carrier Global in the 2nd quarter worth approximately $37,000. Finally, Latitude Advisors LLC acquired a new stake in Carrier Global in the 3rd quarter valued at approximately $27,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.