Carrier Global Target of Unusually High Options Trading (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) was the recipient of unusually large options trading on Thursday. Stock investors bought 13,601 put options on the stock. This is an increase of 202% compared to the typical volume of 4,511 put options.

Analyst Ratings Changes

CARR has been the subject of several recent analyst reports. Citigroup increased their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Oppenheimer reiterated an “outperform” rating and set a $63.00 price objective on shares of Carrier Global in a research note on Thursday. Royal Bank of Canada lowered their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Barclays raised their target price on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company lowered their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.15.

Carrier Global Price Performance

Shares of CARR stock opened at $53.55 on Friday. The stock has a 50-day moving average price of $56.36 and a 200 day moving average price of $54.74. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The firm has a market cap of $48.20 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.29 and a beta of 1.39. Carrier Global has a 12 month low of $40.28 and a 12 month high of $60.87.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The company’s revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Research analysts expect that Carrier Global will post 2.82 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is currently 48.10%.

Insider Buying and Selling

In related news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FORVIS Wealth Advisors LLC boosted its holdings in Carrier Global by 105.5% during the first quarter. FORVIS Wealth Advisors LLC now owns 36,124 shares of the company’s stock worth $2,100,000 after buying an additional 18,548 shares during the last quarter. Everett Harris & Co. CA boosted its holdings in Carrier Global by 25.9% during the first quarter. Everett Harris & Co. CA now owns 12,538 shares of the company’s stock worth $729,000 after buying an additional 2,583 shares during the last quarter. Financial Perspectives Inc boosted its holdings in Carrier Global by 6.3% during the first quarter. Financial Perspectives Inc now owns 4,606 shares of the company’s stock worth $268,000 after buying an additional 271 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Carrier Global by 17.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 21,456 shares of the company’s stock valued at $1,247,000 after purchasing an additional 3,121 shares in the last quarter. Finally, Massachusetts Wealth Management lifted its holdings in shares of Carrier Global by 39.0% during the 1st quarter. Massachusetts Wealth Management now owns 11,500 shares of the company’s stock valued at $668,000 after purchasing an additional 3,225 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.