Carrier Global Co. (NYSE:CARR) Short Interest Update

Carrier Global Co. (NYSE:CARR) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 12,830,000 shares, an increase of 15.4% from the September 30th total of 11,120,000 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 3,490,000 shares, the days-to-cover ratio is presently 3.7 days.

Carrier Global Trading Down 1.5 %

Shares of CARR stock traded down $1.15 on Tuesday, reaching $74.51. 522,024 shares of the company’s stock were exchanged, compared to its average volume of 4,140,482. Carrier Global has a 52 week low of $46.77 and a 52 week high of $83.32. The stock has a market capitalization of $67.26 billion, a PE ratio of 52.92, a P/E/G ratio of 2.94 and a beta of 1.32. The company’s fifty day simple moving average is $76.60 and its 200 day simple moving average is $68.15. 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 announced that its board has approved a stock buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.02%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Analyst Ratings Changes

CARR has been the topic of a number of recent research reports. Barclays lowered their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday. Stephens dropped their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Morgan Stanley initiated coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.95% of the stock is owned by company insiders.

Institutional Trading of Carrier Global

A number of institutional investors have recently modified their holdings of CARR. Vanguard Group Inc. grew its stake in Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after buying an additional 466,829 shares during the last quarter. Capital International Investors boosted its holdings in Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the last quarter. PineStone Asset Management Inc. increased its holdings in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after purchasing an additional 72,633 shares during 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.