Carrier Global Co. (NYSE:CARR) Short Interest Up 13.9% in September

Carrier Global Co. (NYSE:CARRGet Free Report) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 13,250,000 shares, an increase of 13.9% from the August 31st total of 11,630,000 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 3,670,000 shares, the short-interest ratio is presently 3.6 days.

Carrier Global Stock Performance

CARR opened at $80.49 on Tuesday. The business’s 50-day moving average price is $71.00 and its two-hundred day moving average price is $65.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The company has a market capitalization of $72.52 billion, a price-to-earnings ratio of 56.29, a P/E/G ratio of 3.23 and a beta of 1.32. Carrier Global has a 1 year low of $45.68 and a 1 year high of $81.64.

Carrier Global (NYSE:CARRGet Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion during 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 business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 earnings per share. Equities analysts expect that Carrier Global will post 2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CARR. Robert W. Baird cut their price objective 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. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Royal Bank of Canada boosted their target price on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Barclays upped their target price on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

Read Our Latest Research Report on CARR

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently added to or reduced their stakes in CARR. Olistico Wealth LLC bought a new position in shares of Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in Carrier Global during the second quarter worth about $32,000. Hantz Financial Services Inc. acquired a new position in Carrier Global during the second quarter worth approximately $35,000. Finally, Family Firm Inc. acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $37,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

About Carrier Global

(Get Free Report)

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.

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