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

Carrier Global Co. (NYSE:CARR) saw some unusual options trading activity on Monday. Investors bought 23,523 put options on the stock. This is an increase of 423% compared to the average volume of 4,502 put options.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred 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 owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carrier Global

Several institutional investors and hedge funds have recently bought and sold shares of CARR. Nordea Investment Management AB raised its stake in Carrier Global by 5.5% in the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after acquiring an additional 43,002 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Carrier Global during the 4th quarter worth approximately $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Carrier Global by 50.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after acquiring an additional 130,192 shares during the period. GLOBALT Investments LLC GA acquired a new position in Carrier Global in the fourth quarter valued at approximately $859,000. Finally, United Services Automobile Association boosted its holdings in Carrier Global by 9.2% during the fourth quarter. United Services Automobile Association now owns 26,758 shares of the company’s stock worth $1,537,000 after buying an additional 2,244 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CARR has been the topic of a number of research analyst reports. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Barclays upped their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Robert W. Baird reduced their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Oppenheimer increased their price objective on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, Wells Fargo & Company lifted their target price on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. One 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.73.

Carrier Global Trading Up 0.8 %

Shares of NYSE CARR traded up $0.61 during trading hours on Monday, reaching $77.12. The stock had a trading volume of 1,929,678 shares, compared to its average volume of 4,220,203. Carrier Global has a 52-week low of $45.68 and a 52-week high of $77.48. The firm has a market cap of $69.49 billion, a price-to-earnings ratio of 53.50, a P/E/G ratio of 2.94 and a beta of 1.32. The business’s fifty day moving average price is $68.05 and its two-hundred day moving average price is $63.28. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts expect that Carrier Global will post 2.84 EPS for the current fiscal year.

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.