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

Carrier Global Co. (NYSE:CARR) was the recipient of unusually large options trading activity on Thursday. Traders purchased 13,601 put options on the company. This is an increase of approximately 202% compared to the typical volume of 4,511 put options.

Insider Buying and Selling

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

Institutional Investors Weigh In On Carrier Global

Large investors have recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. increased its holdings in shares of Carrier Global by 0.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock valued at $1,119,000 after purchasing an additional 181 shares during the period. Sunbelt Securities Inc. boosted its position in shares of Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after purchasing an additional 182 shares during the period. Graypoint LLC increased its stake in Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after purchasing an additional 184 shares in the last quarter. Sovereign Financial Group Inc. increased its stake in Carrier Global by 4.7% in the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock worth $243,000 after purchasing an additional 188 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. increased its stake in Carrier Global by 16.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock worth $80,000 after purchasing an additional 200 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays increased their price objective on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Citigroup increased their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company reduced 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. Royal Bank of Canada reduced 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. Finally, Oppenheimer reiterated an “outperform” rating and set a $63.00 target price on shares of Carrier Global in a research note on Thursday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Hold” and a consensus target price of $61.15.

Carrier Global Stock Performance

Shares of CARR opened at $53.38 on Friday. The business’s fifty day moving average price is $56.41 and its 200 day moving average price is $54.75. Carrier Global has a 12-month low of $40.28 and a 12-month high of $60.87. The stock has a market capitalization of $48.05 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40.

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

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.