Carrier Global Co. (NYSE:CARR) Short Interest Update

Carrier Global Co. (NYSE:CARR) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 11,120,000 shares, a decrease of 16.1% from the September 15th total of 13,250,000 shares. Based on an average daily trading volume, of 3,540,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 1.3% of the shares of the stock are short sold.

Carrier Global Trading Down 0.7 %

NYSE CARR traded down $0.56 during trading hours on Wednesday, hitting $81.05. 3,274,638 shares of the company’s stock were exchanged, compared to its average volume of 4,147,726. The business’s 50 day moving average is $74.28 and its 200-day moving average is $66.78. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global has a 12-month low of $45.68 and a 12-month high of $83.32. The firm has a market capitalization of $73.03 billion, a P/E ratio of 56.94, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm posted $0.79 EPS. The company’s revenue was up 11.7% on a year-over-year basis. As a group, analysts anticipate that Carrier Global will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.94%. Carrier Global’s dividend payout ratio is presently 53.15%.

Analyst Ratings Changes

CARR has been the topic of a number of research reports. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Royal Bank of Canada lifted their price objective on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Bank of America increased their target price on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, September 13th. Finally, Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after buying an additional 466,829 shares during the period. Capital International Investors raised its stake in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares in the last quarter. PineStone Asset Management Inc. boosted its position in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after purchasing an additional 72,633 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.