Public Employees Retirement Association of Colorado Decreases Position in Carrier Global Co. (NYSE:CARR)

Public Employees Retirement Association of Colorado decreased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,103 shares of the company’s stock after selling 2,164 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Carrier Global were worth $6,617,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower View Wealth Management LLC lifted its stake in Carrier Global by 0.3% in the second quarter. Tower View Wealth Management LLC now owns 55,090 shares of the company’s stock valued at $2,739,000 after buying an additional 187 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Carrier Global by 7.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,781 shares of the company’s stock valued at $138,000 after buying an additional 189 shares during the last quarter. Oakworth Capital Inc. lifted its stake in Carrier Global by 12.3% in the second quarter. Oakworth Capital Inc. now owns 1,831 shares of the company’s stock valued at $91,000 after buying an additional 200 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Carrier Global by 3.3% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,236 shares of the company’s stock valued at $310,000 after buying an additional 200 shares during the last quarter. Finally, Foster & Motley Inc. lifted its stake in Carrier Global by 1.4% in the second quarter. Foster & Motley Inc. now owns 14,532 shares of the company’s stock valued at $722,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 91.47% of the company’s stock.

Carrier Global Trading Up 3.7 %

Shares of CARR stock opened at $52.81 on Wednesday. The business’s fifty day moving average price is $52.58 and its 200 day moving average price is $50.73. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.04. The firm has a market capitalization of $44.31 billion, a PE ratio of 37.45, a P/E/G ratio of 1.77 and a beta of 1.45. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.66 and a quick ratio of 1.25.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, October 26th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.11. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.89 billion. Carrier Global had a return on equity of 26.60% and a net margin of 5.43%. Carrier Global’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, sell-side analysts forecast that Carrier Global Co. will post 2.71 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, October 27th will be given a dividend of $0.185 per share. The ex-dividend date is Thursday, October 26th. This represents a $0.74 dividend on an annualized basis and a yield of 1.40%. Carrier Global’s payout ratio is 52.48%.

Analyst Ratings Changes

CARR has been the subject of a number of research reports. JPMorgan Chase & Co. cut Carrier Global from a “neutral” rating to an “underweight” rating and set a $53.00 price objective for the company. in a research note on Friday, October 6th. Morgan Stanley boosted their target price on Carrier Global from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Friday, September 22nd. Oppenheimer dropped their target price on Carrier Global from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 23rd. Mizuho lowered Carrier Global from a “buy” rating to a “neutral” rating and dropped their target price for the company from $63.00 to $61.00 in a report on Thursday, September 14th. Finally, Argus boosted their target price on Carrier Global from $52.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.63.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.