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

Carrier Global Co. (NYSE:CARR) saw unusually large options trading activity on Thursday. Stock investors acquired 13,601 put options on the stock. This is an increase of approximately 202% compared to the average volume of 4,511 put options.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CARR shares. Barclays increased their price target on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Citigroup lifted their price target on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Wells Fargo & Company cut their price objective on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Royal Bank of Canada decreased their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $63.00 price objective on shares of Carrier Global in a research note on Thursday. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus price target of $61.15.

Carrier Global Stock Up 0.9 %

Carrier Global stock traded up $0.48 during trading on Thursday, hitting $54.73. 520,856 shares of the company were exchanged, compared to its average volume of 4,650,372. The business’s 50 day moving average is $56.45 and its 200 day moving average is $54.76. The company has a market capitalization of $49.26 billion, a P/E ratio of 34.34, a PEG ratio of 2.31 and a beta of 1.39. Carrier Global has a 52 week low of $40.28 and a 52 week high of $60.87. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. Analysts predict that Carrier Global will post 2.82 earnings per share for the current year.

Insider Buying and Selling

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carrier Global

Institutional investors have recently added to or reduced their stakes in the business. Modera Wealth Management LLC grew its position in Carrier Global by 19.4% in the third quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock worth $1,165,000 after acquiring an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc increased its position in shares of Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after purchasing an additional 476 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Carrier Global by 13.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 489,403 shares of the company’s stock valued at $28,209,000 after buying an additional 59,308 shares in the last quarter. Procyon Advisors LLC lifted its position in Carrier Global by 8.5% in the 4th quarter. Procyon Advisors LLC now owns 6,300 shares of the company’s stock worth $362,000 after buying an additional 492 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Carrier Global by 1,020.9% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 30,252 shares of the company’s stock worth $1,738,000 after buying an additional 27,553 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

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.