Carrier Global Target of Unusually Large Options Trading (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 11,670 put options on the company. This represents an increase of 87% compared to the average volume of 6,253 put options.

Analyst Ratings Changes

CARR has been the topic of several recent analyst reports. Royal Bank of Canada lowered their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Citigroup lowered their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Hedge Funds Weigh In On Carrier Global

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global in the third quarter worth $28,000. McClarren Financial Advisors Inc. increased its position in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares in the last quarter. Coastline Trust Co acquired a new stake in shares of Carrier Global in the third quarter worth $37,000. Country Trust Bank acquired a new stake in shares of Carrier Global in the third quarter worth $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Carrier Global in the third quarter worth $44,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Down 3.2 %

Shares of CARR traded down $2.12 on Wednesday, hitting $65.18. 4,686,280 shares of the stock traded hands, compared to its average volume of 5,194,810. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $58.48 billion, a P/E ratio of 16.50, a P/E/G ratio of 2.26 and a beta of 1.36. The stock’s 50 day moving average is $71.14 and its two-hundred day moving average is $72.57. Carrier Global has a 1 year low of $53.13 and a 1 year high of $83.32.

Carrier Global declared that its Board of Directors has approved a stock repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global Company Profile

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.