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

Carrier Global Co. (NYSE:CARR - Get Free Report) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 14,710,000 shares, a growth of 29.9% from the January 31st total of 11,320,000 shares. Based on an average daily trading volume, of 5,470,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.8% of the company's stock are short sold.

Analyst Ratings Changes

CARR has been the subject of several recent analyst reports. UBS Group raised Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Barclays cut their price target on shares of Carrier Global from $90.00 to $87.00 and set an "overweight" rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $86.00 to $76.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 12th. Wolfe Research upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research note on Monday, February 24th. Finally, Wells Fargo & Company lowered their price target on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $82.47.

Carrier Global Stock Down 1.9 %

Shares of CARR stock traded down $1.22 during mid-day trading on Tuesday, reaching $62.04. 5,616,878 shares of the company's stock traded hands, compared to its average volume of 5,972,442. The company has a market cap of $53.60 billion, a P/E ratio of 9.88, a P/E/G ratio of 2.01 and a beta of 1.35. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Carrier Global has a 12 month low of $53.33 and a 12 month high of $83.32. The company's 50-day moving average price is $66.89 and its 200-day moving average price is $72.35.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period last year, the company posted $0.53 earnings per share. On average, equities analysts expect that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a $0.225 dividend. This is a boost from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.45%. Carrier Global's dividend payout ratio is presently 14.33%.

Institutional Trading of Carrier Global

Institutional investors and hedge funds have recently modified their holdings of the company. BOK Financial Private Wealth Inc. boosted its holdings in shares of Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after purchasing an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its holdings in Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after buying an additional 180 shares in the last quarter. FSA Wealth Management LLC bought a new stake in Carrier Global in the 3rd quarter worth approximately $28,000. Park Square Financial Group LLC purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $28,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of Carrier Global during the 4th quarter valued at approximately $31,000. 91.00% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.