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

Carrier Global Co. (NYSE:CARRGet Free Report) was the target of unusually large options trading on Tuesday. Stock traders purchased 17,572 put options on the company. This is an increase of 141% compared to the typical volume of 7,288 put options.

Carrier Global Trading Up 0.1 %

NYSE:CARR traded up $0.09 during mid-day trading on Tuesday, reaching $68.80. 866,942 shares of the company’s stock traded hands, compared to its average volume of 2,741,963. Carrier Global has a 12-month low of $53.13 and a 12-month high of $83.32. The firm has a market capitalization of $61.73 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 2.73 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company has a 50 day moving average price of $73.00 and a 200-day moving average price of $71.98.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 22.78%.

Carrier Global announced that its board has authorized a stock buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on CARR. Mizuho raised their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays raised their target price on Carrier Global from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group assumed coverage on Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Bank of America raised their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Robert W. Baird dropped their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.36.

Get Our Latest Stock Analysis on Carrier Global

Institutional Trading of Carrier Global

Several large investors have recently bought and sold shares of CARR. FMR LLC boosted its position in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Carrier Global in the 3rd quarter worth approximately $130,479,000. Point72 Asset Management L.P. bought a new stake in shares of Carrier Global in the 2nd quarter worth approximately $58,415,000. Mizuho Securities USA LLC boosted its position in shares of Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after purchasing an additional 922,892 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

About Carrier Global

(Get Free Report)

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.

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