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

Carrier Global Co. (NYSE:CARR) was the target of a significant increase in short interest in 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 company are short sold. Based on an average daily volume of 4,090,000 shares, the days-to-cover ratio is currently 4.1 days.

Carrier Global Price Performance

CARR stock traded up $0.58 during trading 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. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average price of $63.50 and a two-hundred day moving average price of $58.79. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $66.50. The company has a market cap 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 posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Equities research analysts expect that Carrier Global will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

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

Insider Activity at Carrier Global

In other news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jurgen Timperman sold 159,915 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. 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. 6.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares during the last quarter. Norges Bank acquired a new stake in shares of Carrier Global in the 4th quarter valued at approximately $444,487,000. Capital International Investors boosted its stake in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares during the last quarter. Capital Research Global Investors grew its holdings in Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after purchasing an additional 2,961,923 shares during the period. Finally, Bristol Gate Capital Partners Inc. bought a new stake in Carrier Global in the fourth quarter valued at approximately $92,651,000. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. TD Cowen lifted their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Robert W. Baird boosted their price target on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Barclays boosted 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. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $64.14.

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.