New York State Common Retirement Fund lifted its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,453,508 shares of the company's stock after purchasing an additional 75,949 shares during the quarter. New York State Common Retirement Fund owned 0.16% of Carrier Global worth $99,216,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FSA Wealth Management LLC bought a new stake in shares of Carrier Global in the third quarter valued at about $28,000. Coastline Trust Co bought a new stake in shares of Carrier Global in the third quarter valued at about $37,000. Capital Performance Advisors LLP bought a new stake in shares of Carrier Global in the third quarter valued at about $44,000. Ashton Thomas Securities LLC bought a new stake in shares of Carrier Global in the third quarter valued at about $50,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Carrier Global by 67.2% in the third quarter. GHP Investment Advisors Inc. now owns 687 shares of the company's stock valued at $55,000 after acquiring an additional 276 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently weighed in on CARR shares. Mizuho upgraded Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price objective for the company in a report on Friday, February 14th. The Goldman Sachs Group assumed coverage on Carrier Global in a research note on Thursday, December 12th. They issued a "buy" rating and a $96.00 target price on the stock. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They issued a "neutral" rating on the stock. Robert W. Baird cut their target price on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada cut their target price on Carrier Global from $86.00 to $76.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $82.64.
View Our Latest Analysis on CARR
Carrier Global Stock Down 1.7 %
Shares of CARR stock traded down $1.11 during trading hours on Friday, reaching $66.00. 4,345,138 shares of the company's stock were exchanged, compared to its average volume of 5,889,209. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32. The stock has a market cap of $57.31 billion, a PE ratio of 10.53, a PEG ratio of 1.97 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock's fifty day moving average price is $67.60 and its two-hundred day moving average price is $72.26.
Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period last year, the company earned $0.53 EPS. Research analysts predict that Carrier Global Co. will post 2.99 EPS for the current year.
Carrier Global Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a $0.225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio is currently 14.33%.
Carrier Global announced that its Board of Directors has approved a share buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
About Carrier Global
(
Free Report)
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.
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