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

Key Points

• Carrier Global saw unusually heavy options activity, with investors buying 15,197 put options on Monday, about 241% above its average daily put volume.
• The stock slipped on the day, falling $1.03 to $67.66 on volume of 1.59 million shares, well below its normal trading volume.
• Analyst sentiment remains broadly positive, with 12 Buy ratings and 10 Hold ratings, and a consensus target price of $73.51; the company also recently reaffirmed its dividend at $0.24 per quarter.

Carrier Global Corporation (NYSE:CARR - Get Free Report) saw unusually large options trading on Monday. Stock investors bought 15,197 put options on the stock. This is an increase of approximately 241% compared to the average daily volume of 4,452 put options.

Carrier Global Price Performance

NYSE CARR traded down $1.03 on Monday, reaching $67.66. 1,592,908 shares of the company's stock traded hands, compared to its average volume of 6,868,807. Carrier Global has a 12 month low of $50.24 and a 12 month high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.75. The stock has a 50-day simple moving average of $68.27 and a 200 day simple moving average of $62.70. The stock has a market cap of $56.19 billion, a PE ratio of 44.48, a P/E/G ratio of 2.75 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.06. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the business posted $0.65 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, research analysts predict that Carrier Global will post 2.79 earnings per share for the current year.

Carrier Global Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Carrier Global in the 4th quarter worth $380,299,000. Assenagon Asset Management S.A. raised its stake in shares of Carrier Global by 461.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,460,321 shares of the company's stock valued at $130,003,000 after acquiring an additional 2,022,136 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Carrier Global during the fourth quarter worth about $99,839,000. PineStone Asset Management Inc. boosted its holdings in shares of Carrier Global by 34.6% during the fourth quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company's stock worth $377,987,000 after purchasing an additional 1,837,985 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in shares of Carrier Global by 865.3% in the fourth quarter. Voloridge Investment Management LLC now owns 1,974,350 shares of the company's stock worth $104,325,000 after purchasing an additional 1,769,813 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CARR. Royal Bank Of Canada raised their target price on shares of Carrier Global from $71.00 to $81.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Citigroup increased their price target on shares of Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Argus raised their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Wolfe Research reaffirmed an "outperform" rating and set a $80.00 price objective on shares of Carrier Global in a report on Thursday, July 9th. Finally, Mizuho lifted their price objective on shares of Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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