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

Carrier Global Co. (NYSE:CARR) saw unusually large options trading activity on Monday. Stock investors purchased 23,523 put options on the stock. This is an increase of approximately 423% compared to the average daily volume of 4,502 put options.

Carrier Global Stock Performance

NYSE CARR opened at $77.11 on Tuesday. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $77.48. The stock’s fifty day moving average is $68.32 and its two-hundred day moving average is $63.43. The firm has a market capitalization of $69.48 billion, a P/E ratio of 53.92, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the business earned $0.79 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts anticipate that Carrier Global will post 2.84 earnings per share for the current year.

Insider Transactions at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is owned by insiders.

Institutional Trading of Carrier Global

Large investors have recently made changes to their positions in the company. Aveo Capital Partners LLC increased its position in Carrier Global by 3.9% during the fourth quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock worth $310,000 after buying an additional 205 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Carrier Global during the fourth quarter worth about $241,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Carrier Global by 11.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 25,252 shares of the company’s stock worth $1,451,000 after acquiring an additional 2,576 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Carrier Global by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 155,048 shares of the company’s stock worth $8,908,000 after acquiring an additional 9,713 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its holdings in Carrier Global by 6.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 46,397 shares of the company’s stock valued at $2,665,000 after buying an additional 2,996 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Oppenheimer boosted their target price on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Royal Bank of Canada upped their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Barclays increased their price target on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

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.