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

Carrier Global Corporation (NYSE:CARR) saw some unusual options trading activity on Friday. Investors purchased 14,306 put options on the stock. This is an increase of approximately 223% compared to the typical volume of 4,428 put options.

Carrier Global Price Performance

Shares of CARR opened at $57.32 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global has a twelve month low of $50.24 and a twelve month high of $81.09. The stock has a market capitalization of $48.27 billion, a P/E ratio of 12.82, a P/E/G ratio of 2.30 and a beta of 1.31. The company has a 50 day moving average of $53.92 and a 200-day moving average of $60.43.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities research analysts forecast that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, January 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.7%. Carrier Global’s dividend payout ratio is currently 21.48%.

Carrier Global declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently made changes to their positions in CARR. JPMorgan Chase & Co. lifted its position in shares of Carrier Global by 23.8% in the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock valued at $2,820,485,000 after buying an additional 7,409,432 shares during the last quarter. Norges Bank acquired a new stake in Carrier Global during the 2nd quarter valued at $524,939,000. Capital International Investors boosted its position in Carrier Global by 6.7% during the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock worth $3,461,142,000 after purchasing an additional 3,630,524 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Carrier Global by 506.1% in the third quarter. Ameriprise Financial Inc. now owns 4,187,219 shares of the company’s stock valued at $249,977,000 after purchasing an additional 3,496,372 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Carrier Global by 1,742.8% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,623,000 shares of the company’s stock valued at $265,167,000 after purchasing an additional 3,426,395 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Zacks Research raised Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Morgan Stanley set a $55.00 target price on Carrier Global in a research note on Thursday, January 8th. Finally, Mizuho cut their price target on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.44.

Carrier Global Company Profile

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.