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

Carrier Global Co. (NYSE:CARR - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 13,601 put options on the company. This represents an increase of 202% compared to the typical volume of 4,511 put options.

Insider Buying and Selling

In related news, VP Kevin J. O'connor sold 26,551 shares of the company's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Kevin J. O'connor sold 26,551 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares of the company's stock, valued at $3,553,282.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company's stock worth $25,000 after acquiring an additional 202 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in shares of Carrier Global during the 4th quarter worth approximately $25,000. EdgeRock Capital LLC bought a new stake in shares of Carrier Global during the 4th quarter worth approximately $27,000. Larson Financial Group LLC lifted its holdings in shares of Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company's stock worth $28,000 after acquiring an additional 221 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Carrier Global during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of Carrier Global stock traded down $0.87 during trading on Thursday, hitting $53.38. 3,050,494 shares of the stock were exchanged, compared to its average volume of 4,685,329. The stock has a market capitalization of $48.05 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a fifty day moving average price of $56.41 and a 200-day moving average price of $54.75. Carrier Global has a 1-year low of $40.28 and a 1-year high of $60.87. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the business earned $0.40 EPS. Carrier Global's quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that Carrier Global will post 2.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CARR shares. Oppenheimer reaffirmed an "outperform" rating and issued a $63.00 price target on shares of Carrier Global in a research report on Thursday. Wells Fargo & Company reduced their target price on shares of Carrier Global from $63.00 to $57.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada reduced their target price on shares of Carrier Global from $63.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 7th. Barclays increased their target price on shares of Carrier Global from $71.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Finally, Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $61.15.

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.