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

Carrier Global Co. (NYSE:CARR) was the recipient of unusually large options trading on Thursday. Stock investors bought 6,241 call options on the stock. This represents an increase of 58% compared to the typical volume of 3,951 call options.

Insider Activity at Carrier Global

In other Carrier Global 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 directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carrier Global

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. Norges Bank acquired a new position in shares of Carrier Global in the 4th quarter valued at approximately $444,487,000. Capital International Investors lifted its position in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in shares of Carrier Global by 139.7% in the 2nd 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 during the last quarter. Finally, Capital Research Global Investors boosted its position in Carrier Global by 3.3% during the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after buying an additional 2,961,923 shares during the period. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent research reports. Robert W. Baird cut their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. 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 research report on Friday, September 6th. Morgan Stanley initiated coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Bank of America raised Carrier Global from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $55.00 to $72.00 in a report on Monday, July 29th. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.17.

Carrier Global Stock Performance

Shares of NYSE:CARR traded down $0.20 on Thursday, hitting $73.47. The company’s stock had a trading volume of 238,120 shares, compared to its average volume of 4,203,344. Carrier Global has a 12 month low of $45.68 and a 12 month high of $74.07. The company has a market capitalization of $66.33 billion, a price-to-earnings ratio of 51.52, a price-to-earnings-growth ratio of 2.77 and a beta of 1.32. The stock’s 50-day moving average is $67.54 and its two-hundred day moving average is $62.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

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 analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 EPS. On average, equities research analysts forecast that Carrier Global will post 2.84 EPS for the current year.

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.