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

Carrier Global Co. (NYSE:CARR) was the target of some unusual options trading activity on Tuesday. Investors acquired 17,572 put options on the company. This is an increase of approximately 141% compared to the average daily volume of 7,288 put options.

Institutional Investors Weigh In On Carrier Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of Carrier Global in the third quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its holdings in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the period. McClarren Financial Advisors Inc. increased its stake in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares in the last quarter. Coastline Trust Co bought a new stake in Carrier Global during the third quarter valued at about $37,000. Finally, Country Trust Bank purchased a new position in shares of Carrier Global in the third quarter valued at about $40,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Up 0.2 %

NYSE:CARR opened at $68.34 on Thursday. Carrier Global has a one year low of $53.13 and a one year high of $83.32. The business has a fifty day moving average price of $72.76 and a 200-day moving average price of $71.99. The firm has a market capitalization of $61.32 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth 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.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.32%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global declared that its Board of Directors has initiated a share buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CARR. Stephens reduced their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Robert W. Baird lowered their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Northcoast Research began coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Barclays reduced their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.21.

About Carrier Global

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.