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

Carrier Global Co. (NYSE:CARR) was the recipient of some unusual options trading activity on Thursday. Stock investors purchased 13,601 put options on the company. This is an increase of approximately 202% compared to the average daily volume of 4,511 put options.

Carrier Global Trading Up 0.9 %

Shares of NYSE CARR traded up $0.48 on Thursday, reaching $54.73. 520,856 shares of the company traded hands, compared to its average volume of 4,650,372. The company has a 50 day moving average of $56.45 and a 200 day moving average of $54.76. 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 has a fifty-two week low of $40.28 and a fifty-two week high of $60.87. The stock has a market capitalization of $49.26 billion, a PE ratio of 34.34, a P/E/G ratio of 2.31 and a beta of 1.39.

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

Analyst Ratings Changes

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

Insider Activity

In related news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction on 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 in the company, valued at $3,553,282.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following 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. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

A number of institutional investors and hedge funds have recently bought and sold shares of CARR. LVW Advisors LLC raised its stake in shares of Carrier Global by 10.4% in the 1st quarter. LVW Advisors LLC now owns 7,362 shares of the company’s stock valued at $428,000 after acquiring an additional 694 shares during the period. Chemung Canal Trust Co. raised its position in Carrier Global by 2.9% in the first quarter. Chemung Canal Trust Co. now owns 7,915 shares of the company’s stock valued at $460,000 after purchasing an additional 220 shares during the period. Grimes & Company Inc. raised its position in Carrier Global by 5.1% in the first quarter. Grimes & Company Inc. now owns 11,165 shares of the company’s stock valued at $649,000 after purchasing an additional 540 shares during the period. OneAscent Financial Services LLC acquired a new position in shares of Carrier Global during the first quarter worth about $435,000. Finally, OneAscent Wealth Management LLC purchased a new stake in shares of Carrier Global in the first quarter worth about $268,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Company Profile

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.