Louisiana State Employees Retirement System Sells 2,400 Shares of Carrier Global Co. (NYSE:CARR)

Louisiana State Employees Retirement System decreased its stake in Carrier Global Co. (NYSE:CARR) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,900 shares of the company’s stock after selling 2,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Carrier Global were worth $3,065,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. FSM Wealth Advisors LLC increased its holdings in shares of Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after buying an additional 136 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in shares of Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after buying an additional 137 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Carrier Global by 1.1% during the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after purchasing an additional 143 shares during the last quarter. Essex Savings Bank grew its holdings in shares of Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after purchasing an additional 144 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Carrier Global by 2.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock valued at $403,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 0.2 %

NYSE:CARR opened at $63.70 on Friday. The company has a 50-day moving average price of $68.55 and a 200-day moving average price of $72.34. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market cap of $57.15 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period in the previous year, the business posted $0.53 earnings per share. Equities analysts predict that Carrier Global Co. will post 2.52 EPS for the current year.

Carrier Global announced that its board has approved a stock buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.41%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CARR. Citigroup reduced their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada reduced their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Finally, Stephens reduced their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $82.64.

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.