Carrier Global Target of Unusually High Options Trading (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 13,601 put options on the stock. 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 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 completion of the sale, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

A number of large investors have recently made changes to their positions in the business. McClarren Financial Advisors Inc. boosted its position in Carrier Global by 86.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after buying an additional 202 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in Carrier Global in the 4th quarter valued at about $25,000. Covestor Ltd boosted its position in Carrier Global by 121.2% in the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 303 shares during the period. EdgeRock Capital LLC purchased a new stake in Carrier Global in the 4th quarter valued at about $27,000. Finally, OFI Invest Asset Management purchased a new stake in Carrier Global in the 3rd quarter valued at about $28,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $53.55 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. The company has a market cap of $48.20 billion, a P/E ratio of 33.89, a P/E/G ratio of 2.29 and a beta of 1.39. The firm’s fifty day moving average is $56.36 and its two-hundred day moving average is $54.74. Carrier Global has a 52-week low of $40.28 and a 52-week high of $60.87.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the firm posted $0.40 EPS. Carrier Global’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, analysts anticipate that Carrier Global will post 2.82 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.42%. Carrier Global’s dividend payout ratio (DPR) is presently 48.10%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Royal Bank of Canada reduced their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Citigroup upped their price target 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. Barclays upped their price target 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. Oppenheimer restated an “outperform” rating and set a $63.00 price target on shares of Carrier Global in a research report on Thursday. Finally, Wells Fargo & Company dropped their target price on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.15.

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.