California Public Employees Retirement System Cuts Position in Carrier Global Co. (NYSE:CARR)

California Public Employees Retirement System decreased its holdings in Carrier Global Co. (NYSE:CARR) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,533,589 shares of the company’s stock after selling 44,054 shares during the quarter. California Public Employees Retirement System’s holdings in Carrier Global were worth $88,105,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CARR. OFI Invest Asset Management acquired a new stake in Carrier Global in the third quarter valued at $28,000. Larson Financial Group LLC grew its holdings in Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after purchasing an additional 221 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new stake in Carrier Global in the third quarter valued at $30,000. GHP Investment Advisors Inc. grew its holdings in Carrier Global by 205.1% in the third quarter. GHP Investment Advisors Inc. now owns 595 shares of the company’s stock valued at $31,000 after purchasing an additional 400 shares during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in Carrier Global in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Citigroup increased their price objective on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada decreased their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $63.00 price objective on shares of Carrier Global in a research note on Thursday, April 18th. Finally, Barclays increased their price objective on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.15.

Insider Transactions at Carrier Global

In other news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Carrier Global Stock Down 0.7 %

Shares of NYSE:CARR opened at $54.77 on Thursday. The stock’s 50-day moving average price is $56.34 and its two-hundred day moving average price is $54.76. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. Carrier Global Co. has a 12-month low of $40.28 and a 12-month high of $60.87. The firm has a market cap of $49.30 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.33 and a beta of 1.39.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company earned $0.40 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts forecast that Carrier Global Co. will post 2.82 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is 48.10%.

About Carrier Global

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.