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

Carrier Global Co. (NYSE:CARR) was the recipient of some unusual options trading on Tuesday. Stock traders bought 5,125 put options on the company. This represents an increase of 47% compared to the typical daily volume of 3,495 put options.

Carrier Global Stock Down 0.9%

Shares of Carrier Global stock traded down $0.67 during trading on Tuesday, hitting $75.17. 471,709 shares of the stock were exchanged, compared to its average volume of 4,601,417. Carrier Global has a 12-month low of $54.22 and a 12-month high of $83.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The stock has a market cap of $64.44 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The firm’s 50-day moving average price is $64.73 and its 200 day moving average price is $67.93.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. As a group, analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

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

Institutional Trading of Carrier Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. RFG Advisory LLC raised its position in Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after purchasing an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Carrier Global by 1,156.1% during the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after buying an additional 19,018 shares during the period. Waldron Private Wealth LLC grew its holdings in shares of Carrier Global by 90.5% during the fourth quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company’s stock worth $1,128,000 after buying an additional 7,854 shares during the last quarter. Ensign Peak Advisors Inc increased its position in Carrier Global by 27.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company’s stock valued at $89,706,000 after acquiring an additional 285,803 shares during the period. Finally, Gateway Wealth Partners LLC raised its stake in Carrier Global by 221.8% during the 4th quarter. Gateway Wealth Partners LLC now owns 10,327 shares of the company’s stock valued at $705,000 after acquiring an additional 7,118 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, February 24th. Robert W. Baird boosted their price target on shares of Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays increased their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price target on Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company raised their price target on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.00.

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.