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

Carrier Global Co. (NYSE:CARR) was the target of some unusual options trading on Tuesday. Stock investors acquired 5,125 put options on the company. This is an increase of 47% compared to the average volume of 3,495 put options.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CARR. Robert W. Baird lifted their price objective on Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, May 9th. Mizuho set a $72.00 price objective on Carrier Global in a report on Tuesday, April 22nd. Barclays upped their price objective on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their target price on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently bought and sold shares of CARR. Merit Financial Group LLC grew its position in Carrier Global by 12.5% in the fourth quarter. Merit Financial Group LLC now owns 41,867 shares of the company’s stock worth $2,858,000 after acquiring an additional 4,656 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Carrier Global by 1.2% in 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 in the last quarter. Gilman Hill Asset Management LLC increased its stake in shares of Carrier Global by 3.0% in the 4th quarter. Gilman Hill Asset Management LLC now owns 52,549 shares of the company’s stock worth $3,587,000 after purchasing an additional 1,551 shares in the last quarter. Lincoln Capital LLC boosted its holdings in Carrier Global by 2.5% in the 4th quarter. Lincoln Capital LLC now owns 119,065 shares of the company’s stock worth $8,127,000 after buying an additional 2,921 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Carrier Global by 1.1% in the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after buying an additional 143 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR stock opened at $74.87 on Wednesday. Carrier Global has a 52-week low of $54.22 and a 52-week high of $83.32. The business has a 50-day simple moving average of $64.95 and a two-hundred day simple moving average of $67.98. The company has a market capitalization of $64.19 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

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

Carrier Global Announces Dividend

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

About Carrier Global

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.