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

Carrier Global Co. (NYSE:CARR) was the target of some unusual options trading on Tuesday. Stock investors bought 13,580 put options on the stock. This represents an increase of 113% compared to the average volume of 6,378 put options.

Carrier Global Stock Performance

NYSE CARR traded down $0.69 on Tuesday, hitting $79.80. 1,152,849 shares of the company traded hands, compared to its average volume of 4,194,201. The company has a market capitalization of $71.90 billion, a price-to-earnings ratio of 56.29, a P/E/G ratio of 3.23 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average price is $71.00 and its 200-day moving average price is $65.00. Carrier Global has a 52-week low of $45.68 and a 52-week high of $81.64.

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

Insider Buying and Selling at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction dated Thursday, August 8th. The stock was 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 directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Olistico Wealth LLC purchased a new position in Carrier Global during the second quarter valued at $25,000. Meeder Asset Management Inc. increased its holdings in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global in the second quarter worth about $32,000. Hantz Financial Services Inc. bought a new position in Carrier Global during the second quarter valued at approximately $35,000. Finally, Family Firm Inc. purchased a new position in Carrier Global during the 2nd quarter valued at approximately $37,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CARR has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Oppenheimer raised their price target on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Bank of America raised their price target on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

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.