Carrier Global Co. (NYSE:CARR) Short Interest Down 9.5% in December

Carrier Global Co. (NYSE:CARR – Get Rating) was the recipient of a large decrease in short interest in December. As of December 30th, there was short interest totalling 7,280,000 shares, a decrease of 9.5% from the December 15th total of 8,040,000 shares. Based on an average trading volume of 4,110,000 shares, the short-interest ratio is currently 1.8 days. Approximately 0.9% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Carrier Global from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, January 19th. Morgan Stanley raised their target price on Carrier Global from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft raised their target price on Carrier Global from $44.00 to $46.00 in a report on Monday, December 5th. The Goldman Sachs Group raised their target price on Carrier Global from $48.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, December 15th. Finally, Cowen lowered their target price on Carrier Global from $58.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, October 31st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Insider Buying and Selling

In other Carrier Global news, insider Jurgen Timperman sold 102,552 shares of the company’s stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $43.57, for a total value of $4,468,190.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zions Bancorporation N.A. increased its stake in shares of Carrier Global by 10.9% during the second quarter. Zions Bancorporation N.A. now owns 2,437 shares of the company’s stock worth $87,000 after purchasing an additional 239 shares during the period. Boston Financial Mangement LLC lifted its holdings in shares of Carrier Global by 2.4% during the second quarter. Boston Financial Mangement LLC now owns 10,552 shares of the company’s stock worth $376,000 after buying an additional 243 shares in the last quarter. CHICAGO TRUST Co NA lifted its holdings in shares of Carrier Global by 4.0% during the second quarter. CHICAGO TRUST Co NA now owns 6,480 shares of the company’s stock worth $231,000 after buying an additional 250 shares in the last quarter. Sargent Bickham Lagudis LLC boosted its position in shares of Carrier Global by 21.2% in the fourth quarter. Sargent Bickham Lagudis LLC now owns 1,483 shares of the company’s stock valued at $61,000 after acquiring an additional 259 shares during the period. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Carrier Global by 1.6% in the second quarter. Integrated Wealth Concepts LLC now owns 16,208 shares of the company’s stock valued at $578,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 85.21% of the company’s stock.

Carrier Global Stock Up 1.2 %

Shares of Carrier Global stock traded up $0.53 during trading on Tuesday, reaching $43.81. The stock had a trading volume of 1,666,617 shares, compared to its average volume of 3,697,294. The company has a market capitalization of $36.64 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 2.03 and a beta of 1.33. The stock has a fifty day moving average price of $43.21 and a two-hundred day moving average price of $40.52. Carrier Global has a 52 week low of $33.10 and a 52 week high of $48.48. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 1.16.

Carrier Global (NYSE:CARR – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.44 billion. Carrier Global had a return on equity of 28.45% and a net margin of 17.55%. Sell-side analysts predict that Carrier Global will post 2.34 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Thursday, December 22nd will be issued a dividend of $0.185 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a $0.74 annualized dividend and a dividend yield of 1.69%. Carrier Global’s payout ratio is presently 17.87%.

About Carrier Global

(Get Rating)

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.