The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Carrier Global Corp shares valued at $19,203,073 were sold by Gitlin David L. on Feb 08 ’24. At $54.16 per share, Gitlin David L. sold 354,539 shares. The insider’s holdings dropped to 422,808 shares worth approximately $22.57 million following the completion of this transaction.
Also, O’Connor Kevin J. sold 26,551 shares, netting a total of over 1,427,676 in proceeds. Following the sale of shares at $53.77 each, the insider now holds 66,083 shares.
Before that, Crockett Kyle had sold 12,170 shares from its account. In a trade valued at $656,692, the Vice President, Controller traded Carrier Global Corp shares for $53.96 each. Upon closing the transaction, the insider’s holdings decreased to 12,170 shares, worth approximately $0.11 million.
As published in a research note from Wolfe Research on October 12, 2023, Carrier Global Corp [CARR] has been rated down from a Peer perform to an Underperform and the price target has been revised to $56. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early October. As of October 05, 2023, BofA Securities has decreased its “Neutral” rating to a “an Underperform” for CARR. Earlier on September 14, 2023, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for CARR stock which previously was a “a Buy”.
Analyzing CARR Stock Performance
During the last five days, there has been a drop of approximately -5.72%. Over the course of the year, Carrier Global Corp shares have dropped approximately -7.08%. Shares of the company reached a 52-week high of $60.87 on 03/08/24 and a 52-week low of $53.13 on 02/20/24. A 50-day SMA is recorded $56.35, while a 200-day SMA reached $54.83. Nevertheless, trading volume fell to 3.08 million shares from 3.17 million shares the previous day.
Support And Resistance Levels for Carrier Global Corp (CARR)
According to the 24-hour chart, there is a support level at 52.88, which, if violated, would cause prices to drop to 52.38. In the upper region, resistance lies at 54.35. The next price resistance is at 55.32. RSI (Relative Strength Index) is 33.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.13, which suggests the price will decrease in the coming days. Percent R is at 99.43%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
