Carrier Global Corp (NYSE:CARR) shares traded -1.95% lower at $61.49 on Wall Street last session.
CARR stock price is now 8.58% away from the 50-day moving average and 11.73% away from the 200-day moving average. The market capitalization of the company currently stands at $55.40B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target maintained at $56, Wolfe Research recently Downgraded its rating from Peer Perform to Underperform for Carrier Global Corp (NYSE: CARR). On October 06, 2023, JP Morgan Downgraded its previous ‘Neutral’ rating to ‘Underweight’ on the stock keeping its target price maintained at $53, while ‘BofA Securities’ rates the stock as ‘Underperform’
In other news, Gitlin David L., Chairman and CEO sold 354,539 shares of the company’s stock on Feb 08 ’24. The stock was sold for $19,203,073 at an average price of $54.16. Upon completion of the transaction, the Chairman and CEO now directly owns 422,808 shares in the company, valued at $26.0 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 08 ’24, Senior VP & CLO O’Connor Kevin J. sold 26,551 shares of the business’s stock. A total of $1,427,676 was realized by selling the stock at an average price of $53.77. This leaves the insider owning 66,083 shares of the company worth $4.06 million. A total of 6.66% of the company’s stock is owned by insiders.
During the past 12 months, Carrier Global Corp has had a low of $40.28 and a high of $62.88. As of last week, the company has a debt-to-equity ratio of 1.51, a current ratio of 1.36, and a quick ratio of 0.99.
According to the Building Products & Equipment Company, earnings per share came in at 0.79, beating analysts’ expectations of 0.77 by 0.02. This compares to $0.45 EPS in the same period last year. The net profit margin was 5.41% and return on equity was 12.64% for CARR. The company reported revenue of $6.18 billion for the quarter, compared to $5.27 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.24 percent. For the current quarter, analysts expect CARR to generate $7.04B in revenue.
