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

Key Points

• Unusual bearish options activity: Investors purchased 28,187 put options on Carrier Global, about 431% above the average volume of 5,304 contracts.
• Shares declined despite an earnings beat: Carrier stock fell $0.75 to $57.47, while quarterly EPS of $0.86 and revenue of $6.35 billion exceeded analyst estimates.
• Analyst sentiment remains moderately positive: Carrier has an average “Moderate Buy” rating and a consensus price target of $73.67, significantly above its reported trading price.

Carrier Global Corporation (NYSE:CARR - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors purchased 28,187 put options on the stock. This represents an increase of approximately 431% compared to the average volume of 5,304 put options.

Carrier Global Stock Performance

Carrier Global stock traded down $0.75 during trading hours on Tuesday, reaching $57.47. 1,677,686 shares of the stock were exchanged, compared to its average volume of 6,810,603. The stock has a market cap of $47.38 billion, a P/E ratio of 39.94, a P/E/G ratio of 2.18 and a beta of 1.31. The firm's 50 day moving average is $65.88 and its 200 day moving average is $63.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. Carrier Global has a 52-week low of $50.24 and a 52-week high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the business posted $0.92 earnings per share. The business's revenue was up 3.9% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Analysts predict that Carrier Global will post 2.87 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, July 21st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, July 21st. Carrier Global's dividend payout ratio is currently 66.67%.

Institutional Investors Weigh In On Carrier Global

Several institutional investors have recently made changes to their positions in CARR. California State Teachers Retirement System boosted its holdings in Carrier Global by 6,864.2% during the second quarter. California State Teachers Retirement System now owns 81,575,322 shares of the company's stock worth $5,983,550,000 after buying an additional 80,403,966 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Carrier Global during the 2nd quarter valued at approximately $590,759,000. Bank of America Corp DE purchased a new stake in shares of Carrier Global during the 2nd quarter worth approximately $572,908,000. Norges Bank acquired a new stake in shares of Carrier Global in the 4th quarter worth approximately $380,299,000. Finally, Legal & General Group Plc acquired a new position in Carrier Global during the second quarter worth $322,366,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CARR. Wolfe Research reissued an "outperform" rating and issued a $80.00 price objective on shares of Carrier Global in a report on Thursday, July 9th. Weiss Ratings restated a "hold (c)" rating on shares of Carrier Global in a research note on Monday, July 20th. Morgan Stanley lifted their price target on shares of Carrier Global from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of Carrier Global from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Finally, Rothschild & Co Redburn lifted their price objective on shares of Carrier Global from $61.00 to $73.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and an average target price of $73.67.

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.

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