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

Carrier Global Co. (NYSE:CARR) saw unusually large options trading activity on Tuesday. Traders purchased 17,572 put options on the company. This is an increase of 141% compared to the average daily volume of 7,288 put options.

Carrier Global Stock Up 0.2 %

NYSE CARR opened at $68.34 on Thursday. Carrier Global has a 1 year low of $53.13 and a 1 year high of $83.32. The stock has a market capitalization of $61.32 billion, a PE ratio of 17.30, a PEG ratio of 2.73 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The business’s 50-day moving average is $72.76 and its 200 day moving average is $71.99.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global announced that its Board of Directors has approved a share repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Carrier Global

Several large investors have recently added to or reduced their stakes in CARR. First Hawaiian Bank boosted its position in Carrier Global by 6.4% during the 4th quarter. First Hawaiian Bank now owns 18,441 shares of the company’s stock valued at $1,259,000 after acquiring an additional 1,114 shares in the last quarter. CWA Asset Management Group LLC boosted its position in shares of Carrier Global by 24.0% during the fourth quarter. CWA Asset Management Group LLC now owns 4,185 shares of the company’s stock valued at $286,000 after purchasing an additional 811 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Carrier Global by 10.3% during the fourth quarter. Nordea Investment Management AB now owns 67,949 shares of the company’s stock valued at $4,656,000 after purchasing an additional 6,365 shares in the last quarter. GAMMA Investing LLC grew its stake in Carrier Global by 2.5% in the fourth quarter. GAMMA Investing LLC now owns 14,820 shares of the company’s stock worth $1,012,000 after purchasing an additional 364 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Carrier Global by 141.5% in the fourth quarter. Versant Capital Management Inc now owns 1,181 shares of the company’s stock worth $81,000 after purchasing an additional 692 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CARR shares. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Bank of America upped their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Northcoast Research began coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Barclays cut their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.21.

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.