Carrier Global Co. (NYSE:CARR) Short Interest Up 10.8% in June

Carrier Global Co. (NYSE:CARR) saw a large 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. Based on an average daily volume of 4,090,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 2.0% of the company’s shares are sold short.

Analysts Set New Price Targets

CARR has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target 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 shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. TD Cowen boosted their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Barclays raised their target price on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Finally, Oppenheimer boosted their price target on Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Carrier Global presently has a consensus rating of “Hold” and a consensus price target of $64.14.

Carrier Global Stock Performance

CARR traded up $0.58 during trading hours on Wednesday, hitting $63.41. 1,564,635 shares of the stock were exchanged, compared to its average volume of 4,546,491. The stock has a market cap of $57.13 billion, a price-to-earnings ratio of 44.38, a price-to-earnings-growth ratio of 2.46 and a beta of 1.32. The stock has a 50-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. Carrier Global has a 12 month low of $45.68 and a 12 month high of $66.50.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Analysts anticipate that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

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

Insiders Place Their Bets

In other news, 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 value of $9,906,734.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the transaction, the vice president now owns 85,028 shares in the company, valued at $5,560,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total value 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 valued at $16,650,050 in the last quarter. 6.95% of the stock is currently owned by company insiders.

Institutional Trading of Carrier Global

Several hedge funds have recently made changes to their positions in the stock. Modera Wealth Management LLC boosted its holdings in shares of Carrier Global by 19.4% during the third quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after acquiring an additional 3,430 shares during the period. Pinnacle Financial Partners Inc increased its stake in shares of Carrier Global by 9.0% in the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after purchasing an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Carrier Global in the fourth quarter valued at approximately $2,081,000. Nomura Holdings Inc. bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $973,000. Finally, AIA Group Ltd grew its holdings in Carrier Global by 16.5% in the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after buying an additional 14,003 shares in the last quarter. Institutional investors 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.