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

Carrier Global Corporation (NYSE:CARR) was the target of some unusual options trading activity on Friday. Stock traders acquired 14,306 put options on the stock. This represents an increase of approximately 223% compared to the typical volume of 4,428 put options.

Hedge Funds Weigh In On Carrier Global

Institutional investors have recently modified their holdings of the business. Spirepoint Private Client LLC lifted its stake in Carrier Global by 547.7% in the third quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock valued at $3,623,000 after buying an additional 51,324 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its position in shares of Carrier Global by 24.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock worth $12,931,000 after acquiring an additional 42,161 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Carrier Global during the third quarter worth $1,986,000. Triasima Portfolio Management inc. acquired a new stake in shares of Carrier Global during the second quarter worth $1,421,000. Finally, Brookstone Capital Management lifted its position in Carrier Global by 220.8% in the 3rd quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock valued at $3,096,000 after acquiring an additional 35,691 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR traded down $0.35 during trading hours on Friday, hitting $57.09. The stock had a trading volume of 2,222,309 shares, compared to its average volume of 6,923,633. Carrier Global has a 52 week low of $50.24 and a 52 week high of $81.09. The stock has a market capitalization of $48.09 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 2.32 and a beta of 1.31. The company’s fifty day moving average is $53.85 and its two-hundred day moving average is $60.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. During the same quarter last year, the firm earned $0.83 EPS. The company’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. On average, analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Carrier Global declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be issued a $0.24 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, January 20th. Carrier Global’s dividend payout ratio is currently 21.48%.

Analysts Set New Price Targets

CARR has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective on Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Wolfe Research reduced their target price on Carrier Global from $74.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. Royal Bank Of Canada dropped their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. Finally, Zacks Research upgraded shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $69.44.

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.