Traders Purchase Large Volume of Put Options on Carrier Global (NYSE:CARR)

Carrier Global Corporation (NYSE:CARR) was the target of unusually large options trading on Tuesday. Stock traders purchased 28,187 put options on the stock. This is an increase of approximately 431% compared to the typical volume of 5,304 put options.

Carrier Global Trading Down 1.3%

Shares of NYSE CARR traded down $0.75 on Tuesday, reaching $57.47. 1,677,686 shares of the company traded hands, compared to its average volume of 6,810,603. The stock has a market capitalization of $47.38 billion, a PE ratio of 39.94, a P/E/G ratio of 2.18 and a beta of 1.31. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $65.88 and a 200 day moving average of $63.92.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. Carrier Global’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, equities research analysts forecast that Carrier Global will post 2.87 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, July 21st. Carrier Global’s payout ratio is currently 66.67%.

Analysts Set New Price Targets

CARR has been the subject of several recent research reports. Morgan Stanley raised their target price on shares of Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Rothschild & Co Redburn upped their target price on Carrier Global from $61.00 to $73.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Zacks Research raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. increased their price objective on Carrier Global from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Argus lifted their price objective on Carrier Global from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $73.67.

Institutional Investors Weigh In On Carrier Global

Institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC grew its position in Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after acquiring an additional 1,850 shares in the last quarter. AQR Capital Management LLC increased its stake in Carrier Global by 51.5% during the 1st quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock worth $4,236,000 after buying an additional 23,200 shares during the period. United Bank lifted its holdings in Carrier Global by 41.2% in the 2nd quarter. United Bank now owns 16,991 shares of the company’s stock worth $1,244,000 after buying an additional 4,956 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in Carrier Global by 33.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company’s stock valued at $1,242,000 after buying an additional 4,277 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of Carrier Global by 6.0% during the second quarter. Guggenheim Capital LLC now owns 9,903 shares of the company’s stock worth $725,000 after acquiring an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.