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

Carrier Global Corporation (NYSE:CARR) saw unusually large options trading on Tuesday. Investors acquired 18,189 put options on the stock. This is an increase of approximately 327% compared to the average daily volume of 4,263 put options.

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Mizuho reduced their price objective on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday. Barclays dropped their target price on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Finally, Morgan Stanley cut their price target on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.41.

Institutional Investors Weigh In On Carrier Global

Hedge funds have recently bought and sold shares of the stock. Oak Thistle LLC bought a new stake in Carrier Global during the third quarter valued at about $1,986,000. Triasima Portfolio Management inc. purchased a new position in shares of Carrier Global during the 2nd quarter valued at about $1,421,000. Foster Victor Wealth Advisors LLC grew its stake in shares of Carrier Global by 24.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after acquiring an additional 42,161 shares during the period. Schroder Investment Management Group increased its holdings in Carrier Global by 2.1% in the 2nd quarter. Schroder Investment Management Group now owns 6,646,908 shares of the company’s stock worth $486,487,000 after acquiring an additional 134,785 shares in the last quarter. Finally, Brookstone Capital Management raised its stake in Carrier Global by 220.8% during the 3rd quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock worth $3,096,000 after acquiring an additional 35,691 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $1.53 during trading on Tuesday, hitting $52.26. The stock had a trading volume of 2,476,687 shares, compared to its average volume of 3,131,967. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global has a 12 month low of $50.24 and a 12 month high of $81.09. The firm has a market cap of $44.01 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 2.12 and a beta of 1.31. The business’s 50-day moving average is $54.43 and its 200 day moving average is $62.11.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, sell-side analysts anticipate that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. Carrier Global’s payout ratio is presently 21.48%.

Carrier Global declared that its board has authorized a stock buyback program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.