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

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

Carrier Global Trading Down 1.3%

CARR opened at $74.87 on Wednesday. Carrier Global has a one year low of $54.22 and a one year high of $83.32. The stock has a market capitalization of $64.19 billion, a PE ratio of 11.92, a P/E/G ratio of 2.01 and a beta of 1.33. The business’s 50 day moving average price is $64.95 and its 200 day moving average price is $67.98. 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 released its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Carrier Global will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

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

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Carrier Global in the 1st quarter valued at about $649,512,000. Norges Bank acquired a new stake in shares of Carrier Global in the 4th quarter valued at approximately $588,029,000. Wealthfront Advisers LLC increased its stake in Carrier Global by 5,840.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after purchasing an additional 4,915,826 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Carrier Global by 17.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after purchasing an additional 4,668,929 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after purchasing an additional 4,377,402 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of analyst reports. Barclays increased their price target on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their price target on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Citigroup lowered their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a report on Monday, April 14th. Royal Bank of Canada increased their price target on shares of Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.00.

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.