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

Carrier Global Corporation (NYSE:CARR) was the target of some unusual options trading on Thursday. Investors bought 14,919 put options on the company. This is an increase of approximately 228% compared to the average daily volume of 4,551 put options.

Analyst Ratings Changes

A number of analysts have issued reports on CARR shares. Deutsche Bank Aktiengesellschaft decreased their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Morgan Stanley decreased their target price on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Wolfe Research set a $74.00 target price on shares of Carrier Global in a report on Tuesday. The Goldman Sachs Group cut their price target on shares of Carrier Global from $76.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.25.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently modified their holdings of CARR. Vanguard Group Inc. boosted its holdings in Carrier Global by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock worth $6,833,980,000 after acquiring an additional 450,594 shares during the period. Capital International Investors lifted its position in shares of Carrier Global by 6.7% during the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock worth $3,461,142,000 after purchasing an additional 3,630,524 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Carrier Global by 23.8% in the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock valued at $2,820,485,000 after purchasing an additional 7,409,432 shares during the period. State Street Corp grew its holdings in Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,377,339 shares of the company’s stock valued at $1,992,627,000 after purchasing an additional 473,692 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Carrier Global by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock valued at $903,807,000 after purchasing an additional 90,585 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 0.8%

CARR traded up $0.44 on Thursday, reaching $53.84. 1,149,892 shares of the company’s stock were exchanged, compared to its average volume of 5,745,152. Carrier Global has a twelve month low of $50.30 and a twelve month high of $81.09. The company’s 50 day moving average is $56.13 and its 200-day moving average is $64.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The company has a market cap of $45.34 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 2.29 and a beta of 1.30.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. Carrier Global’s revenue for the quarter was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts predict that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.8%. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, January 20th. Carrier Global’s dividend payout ratio is 20.13%.

Carrier Global declared that its Board of Directors has approved a share buyback program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.