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

Carrier Global Co. (NYSE:CARR) saw unusually large options trading on Monday. Stock traders bought 23,523 put options on the company. This represents an increase of 423% compared to the typical daily volume of 4,502 put options.

Carrier Global Price Performance

CARR stock traded up $0.61 on Monday, reaching $77.12. The company had a trading volume of 1,929,678 shares, compared to its average volume of 4,220,203. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company’s fifty day moving average is $68.05 and its 200 day moving average is $63.28. The company has a market cap of $69.49 billion, a P/E ratio of 53.50, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global has a 1 year low of $45.68 and a 1 year high of $77.48.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the business posted $0.79 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Carrier Global will post 2.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on 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 transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Carrier Global

Hedge funds have recently made changes to their positions in the business. Marathon Capital Management increased its position in shares of Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after acquiring an additional 156 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after purchasing an additional 162 shares during the period. Founders Capital Management LLC grew its holdings in Carrier Global by 3.4% during the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after purchasing an additional 175 shares in the last quarter. Manchester Capital Management LLC increased its stake in Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after buying an additional 180 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after buying an additional 182 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CARR shares. Robert W. Baird decreased their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Royal Bank of Canada lifted their price objective on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Bank of America increased their target price on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.