Arizona State Retirement System Has $15.92 Million Position in Carrier Global Co. (NYSE:CARR)

Arizona State Retirement System grew its holdings in Carrier Global Co. (NYSE:CARR) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 233,204 shares of the company’s stock after purchasing an additional 696 shares during the quarter. Arizona State Retirement System’s holdings in Carrier Global were worth $15,919,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Aigen Investment Management LP bought a new stake in shares of Carrier Global in the fourth quarter valued at about $2,178,000. Proficio Capital Partners LLC lifted its stake in shares of Carrier Global by 62.6% in the fourth quarter. Proficio Capital Partners LLC now owns 7,198 shares of the company’s stock valued at $491,000 after buying an additional 2,770 shares during the period. Assetmark Inc. lifted its stake in shares of Carrier Global by 11.0% in the fourth quarter. Assetmark Inc. now owns 330,537 shares of the company’s stock valued at $22,562,000 after buying an additional 32,871 shares during the period. Laffer Tengler Investments Inc. lifted its stake in shares of Carrier Global by 22.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 134,916 shares of the company’s stock valued at $9,209,000 after buying an additional 24,504 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of Carrier Global by 30.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 4,116 shares of the company’s stock valued at $281,000 after buying an additional 951 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

NYSE CARR opened at $64.86 on Thursday. The firm has a market cap of $56.03 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 2.01 and a beta of 1.35. The company has a 50 day moving average of $66.80 and a 200-day moving average of $72.30. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 1-year low of $53.33 and a 1-year high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period last year, the company earned $0.53 earnings per share. On average, equities analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were issued a $0.225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.39%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 14.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Northcoast Research assumed coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Monday, February 24th. Finally, Barclays cut their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.53.

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.