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


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Carrier Global Co. (NYSE:CARR) was the recipient of some unusual options trading activity on Monday. Investors bought 6,270 put options on the company. This is an increase of 905% compared to the average volume of 624 put options.

CARR opened at $43.46 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.80 and a debt-to-equity ratio of 2.16. Carrier Global has a fifty-two week low of $15.43 and a fifty-two week high of $45.32. The business has a 50-day moving average of $42.37 and a 200-day moving average of $38.90.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 29th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.11. The firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.37 billion. Carrier Global had a net margin of 8.86% and a return on equity of 24.00%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Carrier Global will post 1.68 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 24th. Shareholders of record on Monday, May 3rd will be paid a $0.12 dividend. The ex-dividend date is Friday, April 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.10%.

A number of equities research analysts have weighed in on CARR shares. Morgan Stanley lifted their price target on shares of Carrier Global from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday. Vertical Research upgraded shares of Carrier Global from a “hold” rating to a “buy” rating in a research note on Monday, January 4th. Atlantic Securities cut shares of Carrier Global from an “overweight” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Friday. They noted that the move was a valuation call. Jefferies Financial Group lifted their price objective on Carrier Global from $43.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 15th. Finally, UBS Group upped their price objective on Carrier Global from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, April 22nd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.63.

Institutional investors have recently bought and sold shares of the stock. Simon Quick Advisors LLC boosted its holdings in Carrier Global by 673.8% during the 4th quarter. Simon Quick Advisors LLC now owns 650 shares of the company’s stock valued at $25,000 after acquiring an additional 566 shares during the period. Birchcreek Wealth Management LLC purchased a new stake in Carrier Global during the fourth quarter valued at approximately $26,000. Tacita Capital Inc purchased a new stake in shares of Carrier Global during the fourth quarter worth about $27,000. Ironwood Wealth Management LLC. purchased a new position in shares of Carrier Global during the fourth quarter valued at approximately $29,000. Finally, Addison Advisors LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 83.02% of the company’s stock.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

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