Stock Traders Purchase High Volume of Carrier Global Put Options (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) saw some unusual options trading activity on Monday. Traders purchased 23,523 put options on the stock. This is an increase of approximately 423% compared to the typical daily volume of 4,502 put options.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $77.11 on Tuesday. The business’s 50 day simple moving average is $68.32 and its 200-day simple moving average is $63.43. The firm has a market capitalization of $69.48 billion, a price-to-earnings ratio of 53.92, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. Carrier Global has a 12 month low of $45.68 and a 12 month high of $77.48.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Carrier Global’s 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. As a group, equities analysts forecast that Carrier Global will post 2.84 earnings per share for the current fiscal year.

Insider Activity

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors have recently modified their holdings of CARR. Olistico Wealth LLC bought a new stake in Carrier Global during the second quarter worth approximately $25,000. Meeder Asset Management Inc. increased its holdings in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC bought a new stake in Carrier Global in the second quarter valued at about $32,000. United Community Bank bought a new stake in Carrier Global in the fourth quarter valued at about $34,000. Finally, Register Financial Advisors LLC bought a new stake in Carrier Global during the first quarter worth about $34,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Bank of America lifted their price objective on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Barclays increased their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Finally, Wells Fargo & Company boosted 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 report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

Carrier Global Company Profile

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.