New York State Teachers Retirement System Sells 35,845 Shares of Carrier Global Co. (NYSE:CARR)

New York State Teachers Retirement System decreased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 670,172 shares of the company’s stock after selling 35,845 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Carrier Global worth $53,942,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 17,021,768 shares during the last quarter. Capital International Investors lifted its stake in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in shares of Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $58,415,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after acquiring an additional 897,061 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $73.60 on Thursday. The stock has a market capitalization of $66.44 billion, a PE ratio of 51.47, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 12-month low of $47.12 and a 12-month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock’s 50 day simple moving average is $76.80 and its 200 day simple moving average is $68.32.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.03%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Carrier Global declared that its board has authorized a stock repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Mizuho boosted their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Bank of America boosted their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company reduced their price target on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Stephens reduced their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Royal Bank of Canada reduced their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $81.33.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by insiders.

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.