New York State Teachers Retirement System Has $44.27 Million Holdings in Carrier Global Co. (NYSE:CARR)

New York State Teachers Retirement System cut its stake in Carrier Global Co. (NYSE:CARR) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 648,537 shares of the company’s stock after selling 21,635 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Carrier Global worth $44,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. RFG Advisory LLC lifted its position in Carrier Global by 36.2% during the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after buying an additional 1,904 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in Carrier Global by 1,156.1% during the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after buying an additional 19,018 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after purchasing an additional 11,032 shares during the period. Cerity Partners LLC raised its holdings in shares of Carrier Global by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after purchasing an additional 38,365 shares during the period. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Carrier Global in the 4th quarter valued at about $2,213,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $65.19 on Friday. The company’s 50 day moving average price is $68.34 and its two-hundred day moving average price is $72.28. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The firm has a market cap of $58.49 billion, a PE ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted $0.53 EPS. Equities research analysts predict that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global announced that its board has initiated a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped 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. Citigroup dropped 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. JPMorgan Chase & Co. dropped their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a report on Friday. Finally, Bank of America upped their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.64.

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.