Investors Purchase Large Volume of Put Options on Carrier Global (NYSE:CARR)

Carrier Global Corporation (NYSE:CARR) was the target of unusually large options trading on Wednesday. Stock investors purchased 13,601 put options on the company. This is an increase of 174% compared to the average daily volume of 4,958 put options.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CARR. Morgan Stanley raised their price objective on shares of Carrier Global from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Argus raised their target price on shares of Carrier Global from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Robert W. Baird upped their price target on Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. The Goldman Sachs Group lifted their target price on shares of Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. Finally, Barclays lifted their price objective on shares of Carrier Global from $67.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.67.

Carrier Global Stock Performance

Shares of CARR stock traded down $0.17 on Wednesday, hitting $63.45. 1,972,906 shares of the stock traded hands, compared to its average volume of 6,962,274. The company’s fifty day moving average is $68.47 and its 200 day moving average is $63.94. Carrier Global has a 1-year low of $50.24 and a 1-year high of $76.76. The company has a market capitalization of $52.30 billion, a PE ratio of 44.06, a PEG ratio of 2.45 and a beta of 1.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, equities research analysts predict that Carrier Global will post 2.89 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, July 21st were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, July 21st. This represents a $0.96 annualized dividend and a yield of 1.5%. Carrier Global’s dividend payout ratio is 66.67%.

Hedge Funds Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Carrier Global by 6.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,127,670 shares of the company’s stock worth $59,586,000 after purchasing an additional 72,906 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Carrier Global by 16.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,168 shares of the company’s stock valued at $8,093,000 after purchasing an additional 21,350 shares in the last quarter. California Public Employees Retirement System lifted its position in Carrier Global by 1.5% in the first quarter. California Public Employees Retirement System now owns 1,430,425 shares of the company’s stock worth $80,547,000 after purchasing an additional 21,367 shares during the period. Mandatum Life Insurance Co Ltd lifted its position in Carrier Global by 36.1% in the first quarter. Mandatum Life Insurance Co Ltd now owns 111,157 shares of the company’s stock worth $6,259,000 after purchasing an additional 29,495 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Carrier Global by 1,794.4% during the first quarter. Geneos Wealth Management Inc. now owns 101,386 shares of the company’s stock worth $5,709,000 after buying an additional 96,034 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.