Carrier Global Target of Unusually Large Options Trading (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 13,580 put options on the company. This is an increase of 113% compared to the average volume of 6,378 put options.

Carrier Global Trading Down 0.9 %

Shares of Carrier Global stock traded down $0.69 during trading on Tuesday, reaching $79.80. 1,152,849 shares of the stock were exchanged, compared to its average volume of 4,194,201. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average is $71.00 and its 200 day moving average is $65.00. The firm has a market cap of $71.90 billion, a price-to-earnings ratio of 56.29, a price-to-earnings-growth 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:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, equities research analysts expect that Carrier Global will post 2.84 earnings per share for the current fiscal year.

Insider Transactions at Carrier Global

In related 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 transaction 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 $6,652,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

Institutional investors have recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in Carrier Global by 5.5% in the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after buying an additional 13,677 shares during the period. Nomura Holdings Inc. bought a new position in shares of Carrier Global during the fourth quarter valued at approximately $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after purchasing an additional 130,192 shares in the last quarter. Finally, GLOBALT Investments LLC GA bought a new position in shares of Carrier Global during the fourth quarter valued at approximately $859,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the topic of a number of research reports. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Royal Bank of Canada raised their price objective on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Barclays upped their target price on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Wells Fargo & Company lifted their price target on shares of Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Finally, Morgan Stanley started coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

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.