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

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

Insiders Place Their Bets

In other news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO David L. Gitlin sold 354,539 shares of the company’s 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 transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the vice president now owns 66,083 shares in the company, 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 Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CARR. McClarren Financial Advisors Inc. increased its stake in shares of Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Carrier Global in the fourth quarter worth $25,000. Covestor Ltd increased its stake in shares of Carrier Global by 121.2% in the first quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 303 shares during the period. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the fourth quarter worth $27,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Carrier Global in the third quarter worth $28,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CARR shares. Royal Bank of Canada decreased their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Citigroup increased their price target on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company decreased their price target on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and issued a $63.00 price target on shares of Carrier Global in a research report on Thursday. Finally, Barclays increased their price target on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.15.

Carrier Global Price Performance

Carrier Global stock opened at $53.38 on Friday. The stock has a market cap of $48.05 billion, a price-to-earnings 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 has a 1 year low of $40.28 and a 1 year high of $60.87. The firm has a 50-day moving average of $56.41 and a two-hundred day moving average of $54.75.

Carrier Global (NYSE:CARR) last announced its quarterly 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. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 EPS. On average, research analysts forecast that Carrier Global will post 2.82 earnings per share for the current year.

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.