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

Carrier Global Co. (NYSE:CARR) saw unusually large options trading activity on Thursday. Stock investors acquired 54,043 call options on the stock. This is an increase of approximately 1,249% compared to the average daily volume of 4,006 call options.

Carrier Global Price Performance

Shares of CARR stock opened at $64.21 on Friday. The company’s 50-day simple moving average is $62.13 and its two-hundred day simple moving average is $58.30. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. Carrier Global has a one year low of $45.68 and a one year high of $66.50. The company has a market capitalization of $57.85 billion, a P/E ratio of 44.90, a P/E/G ratio of 2.65 and a beta of 1.33.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The company had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. As a group, equities analysts anticipate that Carrier Global will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling

In related news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 262,954 shares of company stock valued at $16,650,050. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

A number of large investors have recently bought and sold shares of the business. McClarren Financial Advisors Inc. boosted its stake in Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Carrier Global in the 4th quarter worth $25,000. EdgeRock Capital LLC purchased a new position in Carrier Global during the 4th quarter worth $27,000. VisionPoint Advisory Group LLC acquired a new position in Carrier Global during the 3rd quarter valued at about $30,000. Finally, Criterion Capital Advisors LLC purchased a new stake in Carrier Global in the fourth quarter valued at about $32,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Robert W. Baird raised their price objective on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Wells Fargo & Company increased their price target on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Oppenheimer lifted their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, TD Cowen increased their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.86.

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.