State of New Jersey Common Pension Fund D Has $18.64 Million Position in Carrier Global Co. (NYSE:CARR)

State of New Jersey Common Pension Fund D reduced its holdings in Carrier Global Co. (NYSE:CARR) by 35.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 295,560 shares of the company’s stock after selling 165,034 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Carrier Global were worth $18,644,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CARR. Savant Capital LLC grew its stake in Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after acquiring an additional 162 shares during the period. Founders Capital Management LLC grew its stake in Carrier Global by 3.4% in the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after acquiring an additional 175 shares during the period. Manchester Capital Management LLC grew its stake in Carrier Global by 4.3% in the first quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after acquiring an additional 180 shares during the period. Sunbelt Securities Inc. grew its stake in Carrier Global by 2.3% in the first quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after acquiring an additional 182 shares during the period. Finally, Checchi Capital Advisers LLC grew its stake in Carrier Global by 2.3% in the first quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock valued at $517,000 after acquiring an additional 197 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Barclays upped their price objective on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Bank of America raised Carrier Global from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $55.00 to $72.00 in a research report on Monday, July 29th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Robert W. Baird reduced their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.17.

Insider Buying and Selling at Carrier Global

In other Carrier Global 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 sale, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $75.38 on Friday. The stock has a 50 day moving average price of $67.78 and a 200 day moving average price of $63.01. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $75.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The stock has a market capitalization of $68.05 billion, a PE ratio of 52.71, a price-to-earnings-growth ratio of 2.77 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 earnings per share. Analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Carrier Global 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.