Stock Traders Purchase Large Volume of Put Options on Carrier Global (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) was the target of unusually large options trading activity on Tuesday. Stock investors bought 5,125 put options on the company. This is an increase of 47% compared to the typical daily volume of 3,495 put options.

Hedge Funds Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CARR. Merit Financial Group LLC lifted its position in shares of Carrier Global by 12.5% in the fourth quarter. Merit Financial Group LLC now owns 41,867 shares of the company’s stock valued at $2,858,000 after acquiring an additional 4,656 shares in the last quarter. HB Wealth Management LLC boosted its stake in Carrier Global by 1.2% during the 4th quarter. HB Wealth Management LLC now owns 32,000 shares of the company’s stock worth $2,184,000 after purchasing an additional 371 shares during the last quarter. Gilman Hill Asset Management LLC raised its position in shares of Carrier Global by 3.0% in the fourth quarter. Gilman Hill Asset Management LLC now owns 52,549 shares of the company’s stock valued at $3,587,000 after buying an additional 1,551 shares during the last quarter. Lincoln Capital LLC boosted its position in Carrier Global by 2.5% during the fourth quarter. Lincoln Capital LLC now owns 119,065 shares of the company’s stock worth $8,127,000 after acquiring an additional 2,921 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after acquiring an additional 143 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR traded down $0.67 during trading on Tuesday, reaching $75.17. 471,709 shares of the company traded hands, compared to its average volume of 4,601,417. Carrier Global has a 12-month low of $54.22 and a 12-month high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock has a market cap of $64.44 billion, a P/E ratio of 11.97, a PEG ratio of 2.01 and a beta of 1.33. The firm’s fifty day simple moving average is $64.73 and its 200 day simple moving average is $67.93.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts anticipate that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, May 2nd. Carrier Global’s payout ratio is 13.93%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday. Mizuho set a $72.00 target price on shares of Carrier Global in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price objective on shares of Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday. Barclays boosted their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird increased their target price on Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.00.

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.