Carrier Global Co. (NYSE:CARR) Short Interest Update

Carrier Global Co. (NYSE:CARR) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 14,710,000 shares, an increase of 29.9% from the January 31st total of 11,320,000 shares. Based on an average daily volume of 5,470,000 shares, the short-interest ratio is presently 2.7 days. Currently, 1.8% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of research analyst reports. Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a report on Friday, February 14th. Northcoast Research initiated coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Royal Bank of Canada decreased their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group started coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.47.

Hedge Funds Weigh In On Carrier Global

Several institutional investors have recently made changes to their positions in CARR. RFG Advisory LLC increased its holdings in Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares in the last quarter. Princeton Global Asset Management LLC raised its holdings in Carrier Global by 1,156.1% in the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after purchasing an additional 19,018 shares during the period. Daiwa Securities Group Inc. boosted its position in Carrier Global by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after purchasing an additional 11,032 shares in the last quarter. Cerity Partners LLC increased its position in shares of Carrier Global by 39.0% in the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after buying an additional 38,365 shares in the last quarter. Finally, Miracle Mile Advisors LLC acquired a new position in shares of Carrier Global during the 4th quarter worth approximately $2,213,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR traded down $1.22 during trading on Tuesday, reaching $62.04. 5,616,878 shares of the company’s stock were exchanged, compared to its average volume of 5,972,442. The company’s fifty day simple moving average is $66.89 and its 200-day simple moving average is $72.35. The stock has a market capitalization of $53.60 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global has a 1 year low of $53.33 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period last year, the business earned $0.53 EPS. As a group, research analysts predict that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a $0.225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.45%. Carrier Global’s payout ratio is presently 14.33%.

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.