Carrier Global Sees Unusually Large Options Volume (NYSE:CARR)

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

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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

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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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