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

Carrier Global Co. (NYSE:CARR) saw unusually large options trading activity on Thursday. Stock investors purchased 6,241 call options on the stock. This represents an increase of approximately 58% compared to the typical daily volume of 3,951 call options.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Carrier Global

Several hedge funds have recently bought and sold shares of the stock. Heritage Wealth Management Inc. bought a new stake in Carrier Global in the second quarter worth $382,000. Sanctuary Advisors LLC purchased a new position in shares of Carrier Global in the 2nd quarter worth $4,244,000. Souders Financial Advisors increased its holdings in shares of Carrier Global by 1.9% in the 2nd quarter. Souders Financial Advisors now owns 80,590 shares of the company’s stock worth $5,084,000 after buying an additional 1,521 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of Carrier Global during the 2nd quarter valued at about $2,796,000. Finally, Ted Buchan & Co bought a new position in shares of Carrier Global in the 2nd quarter valued at about $320,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the topic of several recent research reports. Barclays increased their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley began coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Bank of America raised Carrier Global from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $55.00 to $72.00 in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.17.

Carrier Global Stock Performance

NYSE:CARR opened at $75.38 on Friday. The stock has a 50-day moving average price of $67.78 and a 200 day moving average price of $63.01. The stock has a market capitalization of $68.05 billion, a P/E ratio of 52.71, a P/E/G ratio of 2.77 and a beta of 1.32. Carrier Global has a 12-month low of $45.68 and a 12-month high of $75.51. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the firm posted $0.79 EPS. The company’s revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Carrier Global will post 2.84 EPS for the current fiscal 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.