Retirement Systems of Alabama Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

Retirement Systems of Alabama grew its holdings in shares of Carrier Global Co. (NYSE:CARR) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,839 shares of the company’s stock after buying an additional 438 shares during the quarter. Retirement Systems of Alabama’s holdings in Carrier Global were worth $11,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. JPMorgan Chase & Co. increased its position in shares of 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 acquiring an additional 17,021,768 shares during the period. Norges Bank bought a new stake in Carrier Global during the 4th quarter valued at $444,487,000. Capital International Investors lifted its holdings 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 worth $4,931,001,000 after buying an additional 3,763,666 shares during the period. PineStone Asset Management Inc. grew its position in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after buying an additional 3,741,206 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of 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 buying an additional 2,961,923 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CARR shares. Robert W. Baird lowered their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $74.00 in a report on Monday, June 24th. Oppenheimer upped their target price on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Wells Fargo & Company increased their target price on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, TD Cowen boosted their price target on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus target price of $67.08.

Insider Buying and Selling

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Stock Up 2.4 %

NYSE CARR traded up $1.67 during trading on Friday, hitting $71.25. The company’s stock had a trading volume of 2,509,511 shares, compared to its average volume of 4,304,470. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $71.52. The company has a market cap of $64.20 billion, a PE ratio of 49.83, a P/E/G ratio of 2.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The business’s 50 day simple moving average is $65.63 and its 200-day simple moving average is $61.36.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the business earned $0.79 EPS. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 21st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

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.