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

Carrier Global Corporation (NYSE:CARR) saw some unusual options trading activity on Friday. Stock traders purchased 14,306 put options on the company. This is an increase of approximately 223% compared to the average volume of 4,428 put options.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. UBS Group dropped their price target on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Royal Bank Of Canada decreased their price target on Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. JPMorgan Chase & Co. increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Finally, Mizuho cut their price objective on Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.44.

Hedge Funds Weigh In On Carrier Global

Large investors have recently added to or reduced their stakes in the company. AdvisorShares Investments LLC bought a new position in Carrier Global in the 2nd quarter valued at $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Carrier Global in the third quarter valued at approximately $25,000. YANKCOM Partnership raised its position in Carrier Global by 78.5% in the 4th quarter. YANKCOM Partnership now owns 473 shares of the company’s stock valued at $25,000 after buying an additional 208 shares during the last quarter. Winnow Wealth LLC acquired a new stake in Carrier Global in the 2nd quarter valued at $26,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 0.2%

CARR stock opened at $57.32 on Friday. The stock has a market cap of $48.27 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31. The firm’s 50-day simple moving average is $53.92 and its 200 day simple moving average is $60.53. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $81.09. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, sell-side analysts predict that Carrier Global will post 2.99 EPS for the current year.

Carrier Global declared that its board has approved a stock buyback program on Tuesday, October 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be issued a $0.24 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, January 20th. Carrier Global’s dividend payout ratio is currently 21.48%.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.