Carrier Global Co. (NYSE:CARR) Sees Large Growth in Short Interest

Carrier Global Co. (NYSE:CARR) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 16,970,000 shares, an increase of 10.8% from the May 31st total of 15,310,000 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,090,000 shares, the short-interest ratio is currently 4.1 days.

Insider Activity

In related news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Insiders have sold a total of 262,954 shares of company stock worth $16,650,050 over the last ninety days. Company insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. McClarren Financial Advisors Inc. increased its stake in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $25,000. EdgeRock Capital LLC bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $27,000. VisionPoint Advisory Group LLC bought a new position in Carrier Global in the 3rd quarter valued at approximately $30,000. Finally, Criterion Capital Advisors LLC purchased a new stake in Carrier Global during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CARR shares. Wells Fargo & Company upped their price objective on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Robert W. Baird upped their target price on Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Barclays increased their target price on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Finally, Oppenheimer boosted their price target on shares of Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Hold” and a consensus price target of $64.14.

Carrier Global Stock Up 0.9 %

CARR traded up $0.58 on Wednesday, hitting $63.41. The company had a trading volume of 1,564,635 shares, compared to its average volume of 4,546,491. Carrier Global has a 52-week low of $45.68 and a 52-week high of $66.50. The stock has a fifty day simple moving average of $63.50 and a 200-day simple moving average of $58.79. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a market capitalization of $57.13 billion, a P/E ratio of 44.38, a P/E/G ratio of 2.46 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.12. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. As a group, equities analysts expect that Carrier Global will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be given a dividend of $0.19 per share. The ex-dividend date is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.20%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

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.