New York State Common Retirement Fund Sells 74,012 Shares of Carrier Global Co. (NYSE:CARR)

New York State Common Retirement Fund cut its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,377,559 shares of the company's stock after selling 74,012 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Carrier Global worth $110,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Olistico Wealth LLC purchased a new stake in Carrier Global in the second quarter worth $25,000. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock worth $35,000 after buying an additional 310 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after acquiring an additional 405 shares in the last quarter. Country Trust Bank purchased a new position in Carrier Global during the 3rd quarter valued at about $40,000. Finally, EdgeRock Capital LLC bought a new stake in Carrier Global during the second quarter worth about $32,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR stock traded down $0.13 during midday trading on Friday, reaching $72.59. 3,525,001 shares of the company's stock traded hands, compared to its average volume of 4,152,405. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 52-week low of $49.62 and a 52-week high of $83.32. The stock has a market cap of $65.13 billion, a P/E ratio of 18.38, a PEG ratio of 2.64 and a beta of 1.32. The stock's 50-day moving average is $76.89 and its 200 day moving average is $68.56.

Carrier Global announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global's payout ratio is 19.24%.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company's stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an "equal weight" rating and a $75.00 price target on the stock. Barclays reduced their price objective on shares of Carrier Global from $90.00 to $89.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Finally, Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $81.33.

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.