Traders Purchase Large Volume of Put Options on Carrier Global (NYSE:CARR)

Carrier Global Corporation (NYSE:CARR) saw unusually large options trading activity on Monday. Stock traders acquired 15,197 put options on the stock. This represents an increase of 241% compared to the average volume of 4,452 put options.

Carrier Global Stock Performance

NYSE CARR opened at $66.68 on Wednesday. The stock has a market cap of $55.38 billion, a PE ratio of 43.87, a P/E/G ratio of 2.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.05. The firm has a 50-day moving average of $68.32 and a 200-day moving average of $62.90. Carrier Global has a 52-week low of $50.24 and a 52-week high of $81.09.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.01 billion. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. Carrier Global’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, sell-side analysts anticipate that Carrier Global will post 2.79 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, July 21st. This represents a $0.96 annualized dividend and a dividend yield of 1.4%. Carrier Global’s dividend payout ratio is presently 63.16%.

Institutional Trading of Carrier Global

Several hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in Carrier Global by 6.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,127,670 shares of the company’s stock valued at $59,586,000 after purchasing an additional 72,906 shares during the period. Y.D. More Investments Ltd bought a new position in shares of Carrier Global during the fourth quarter worth approximately $1,556,000. Cardinal Capital Management Inc. increased its holdings in shares of Carrier Global by 11.3% during the fourth quarter. Cardinal Capital Management Inc. now owns 410,196 shares of the company’s stock worth $21,675,000 after purchasing an additional 41,647 shares during the period. Canoe Financial LP raised its position in shares of Carrier Global by 607.5% in the fourth quarter. Canoe Financial LP now owns 1,195,050 shares of the company’s stock valued at $63,146,000 after buying an additional 1,026,147 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Carrier Global by 16.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,168 shares of the company’s stock valued at $8,093,000 after buying an additional 21,350 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Barclays boosted their price target on Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Argus upped their price objective on Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Robert W. Baird raised their price objective on Carrier Global from $70.00 to $75.00 in a research report on Friday, May 1st. Finally, Morgan Stanley lifted their target price on Carrier Global from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Twelve equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $73.51.

About Carrier Global

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.