Carrier Global Co. (NYSE:CARR) Short Interest Up 33.9% in May

Carrier Global Co. (NYSE:CARR - Get Free Report) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 16,110,000 shares, an increase of 33.9% from the April 30th total of 12,030,000 shares. Based on an average trading volume of 5,520,000 shares, the short-interest ratio is presently 2.9 days. Currently, 2.0% of the company's stock are sold short.

Carrier Global Trading Up 0.0%

Shares of CARR traded up $0.00 on Thursday, reaching $71.39. 3,995,880 shares of the company's stock were exchanged, compared to its average volume of 5,565,364. Carrier Global has a 12 month low of $54.22 and a 12 month high of $83.32. The stock has a market capitalization of $61.20 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $65.96 and a two-hundred day moving average price of $67.74.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The business's quarterly revenue was down 3.7% on a year-over-year basis. Research analysts anticipate that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. Carrier Global's dividend payout ratio is currently 13.93%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price objective on shares of Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Barclays raised their target price on shares of Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Citigroup decreased their target price on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $83.00.

Institutional Investors Weigh In On Carrier Global

Several hedge funds have recently added to or reduced their stakes in CARR. Princeton Global Asset Management LLC lifted its holdings in Carrier Global by 1,156.1% during the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company's stock worth $1,410,000 after purchasing an additional 19,018 shares during the last quarter. Ensign Peak Advisors Inc increased its position in Carrier Global by 27.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after buying an additional 285,803 shares during the period. Waldron Private Wealth LLC lifted its holdings in shares of Carrier Global by 90.5% during the fourth quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company's stock worth $1,128,000 after buying an additional 7,854 shares in the last quarter. Allworth Financial LP boosted its position in shares of Carrier Global by 1,657.6% in the fourth quarter. Allworth Financial LP now owns 167,653 shares of the company's stock valued at $11,741,000 after acquiring an additional 158,114 shares during the period. Finally, Principal Securities Inc. grew its stake in shares of Carrier Global by 128.6% in the fourth quarter. Principal Securities Inc. now owns 16,919 shares of the company's stock valued at $1,155,000 after acquiring an additional 9,518 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Company Profile

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.