Carrier Global Co. (NYSE:CARR – Get Free Report) was the target of some unusual options trading on Wednesday. Investors bought 65,897 put options on the stock. This is an increase of 1.951% compared to the typical volume of 3.213 put options.
Carrier Global Stock Performance
CARR opened at $55.23 on Thursday. The firm has a market capitalization of $46.11 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.08 and a beta of 1.39. The stock’s 50 day moving average price is $46.66 and its two-hundred day moving average price is $45.05. The company has a quick ratio of 1.23, a current ratio of 1.70 and a debt-to-equity ratio of 1.03. Carrier Global has a 12-month low of $33.10 and a 12-month high of $55.58.
Carrier Global (NYSE:CARR – Get Free Report) last released its earnings results on Tuesday, April 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.05 billion. Carrier Global had a return on equity of 25.56% and a net margin of 12.02%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. On average, equity analysts forecast that Carrier Global will post 2.57 earnings per share for the current year.
Carrier Global Announces Dividends
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, June 23rd will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, June 22nd. Carrier Global’s dividend payout ratio (DPR) is currently 25.00%.
Analysts Set New Price Targets
Several brokerages recently issued reports on CARR. Citigroup increased their price objective on Carrier Global from $45.00 to $52.00 in a research note on Monday, July 10th. Bank of America upped their target price on Carrier Global from $51.00 to $58.00 in a research report on Friday, July 14th. Wells Fargo & Company upped their target price on Carrier Global from $45.00 to $50.00 in a research report on Monday, July 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $49.00 target price on shares of Carrier Global in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Carrier Global from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.67.
Insider Activity
In related news, insider Jurgen Timperman sold 138,956 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $45.01, for a total value of $6,254,409.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. 0.38% of the stock is currently owned by company insiders.
Institutional Trading of Carrier Global
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CARR. Price T Rowe Associates Inc. MD grew its holdings in Carrier Global by 712.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock valued at $799,843,000 after buying an additional 15,330,140 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Carrier Global by 83,676.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,410,303 shares of the company’s stock worth $346,925,000 after acquiring an additional 8,400,264 shares during the period. Norges Bank bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $297,581,000. Balyasny Asset Management LP lifted its position in shares of Carrier Global by 5,728.5% in the 1st quarter. Balyasny Asset Management LP now owns 6,659,207 shares of the company’s stock worth $304,659,000 after acquiring an additional 6,544,955 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Carrier Global by 109.6% in the 1st quarter. Fisher Asset Management LLC now owns 10,892,166 shares of the company’s stock worth $498,317,000 after acquiring an additional 5,694,510 shares during the period. Institutional investors and hedge funds own 86.33% of the company’s stock.
Carrier Global Company Profile
(Get Free Report)
Carrier Global Corporation provides heating, ventilation, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.
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