Stock Traders Buy Large Volume of Carrier Global Put Options (NYSE:CARR)

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

Wall Street Analyst Weigh In

Several analysts have commented on CARR shares. Rothschild & Co Redburn lifted their price target on Carrier Global from $61.00 to $73.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Morgan Stanley increased their target price on Carrier Global from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. Wells Fargo & Company lifted their target price on Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. The Goldman Sachs Group boosted their price target on Carrier Global from $74.00 to $80.00 in a research report on Friday, May 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Carrier Global in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.67.

Carrier Global Trading Down 0.8%

CARR opened at $63.09 on Thursday. The firm has a market capitalization of $52.01 billion, a P/E ratio of 43.81, a P/E/G ratio of 2.46 and a beta of 1.31. The firm’s 50 day moving average is $68.37 and its 200-day moving average is $63.98. Carrier Global has a 52-week low of $50.24 and a 52-week high of $76.76. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s quarterly 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. Analysts expect that Carrier Global will post 2.89 EPS for the current fiscal year.

Carrier Global Announces Dividend

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

Hedge Funds Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARR. Massachusetts Financial Services Co. MA raised its holdings in shares of Carrier Global by 6.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,127,670 shares of the company’s stock worth $59,586,000 after acquiring an additional 72,906 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Carrier Global by 16.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,168 shares of the company’s stock worth $8,093,000 after buying an additional 21,350 shares during the last quarter. Cardinal Capital Management Inc. lifted its position in shares of Carrier Global by 7.1% in the second quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company’s stock worth $42,201,000 after buying an additional 37,934 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Carrier Global by 1.5% during the 1st quarter. California Public Employees Retirement System now owns 1,430,425 shares of the company’s stock worth $80,547,000 after acquiring an additional 21,367 shares in the last quarter. Finally, Mandatum Life Insurance Co Ltd raised its stake in shares of Carrier Global by 36.1% in the 1st quarter. Mandatum Life Insurance Co Ltd now owns 111,157 shares of the company’s stock valued at $6,259,000 after acquiring an additional 29,495 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

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.