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

Carrier Global Co. (NYSE:CARR) was the recipient of some unusual options trading on Thursday. Stock traders acquired 54,043 call options on the stock. This is an increase of approximately 1,249% compared to the average volume of 4,006 call options.

Insider Buying and Selling at Carrier Global

In other news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the 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 transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,954 shares of company stock valued at $16,650,050. 6.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carrier Global

Hedge funds and other institutional investors have recently modified their holdings of the business. Modera Wealth Management LLC increased its stake in shares of Carrier Global by 19.4% in the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after purchasing an additional 3,430 shares during the last quarter. Pinnacle Financial Partners Inc grew its position in Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock worth $332,000 after acquiring an additional 476 shares during the last quarter. Andrew Hill Investment Advisors Inc. bought a new stake in Carrier Global during the 4th quarter worth $2,081,000. AIA Group Ltd grew its position in Carrier Global by 16.5% during the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after acquiring an additional 14,003 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Carrier Global during the 4th quarter worth $1,132,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CARR shares. Robert W. Baird raised their price target on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Citigroup raised their price target on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays raised their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Oppenheimer lifted their target price on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company lifted their target price on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.86.

Carrier Global Price Performance

Shares of NYSE CARR opened at $62.86 on Friday. The stock has a market capitalization of $56.64 billion, a PE ratio of 43.96, a P/E/G ratio of 2.65 and a beta of 1.33. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The business has a fifty day moving average price of $62.25 and a two-hundred day moving average price of $58.36. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $66.50.

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

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Carrier Global’s payout ratio is 53.15%.

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.