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

New York State Teachers Retirement System decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 648,537 shares of the company’s stock after selling 21,635 shares during the period. New York State Teachers Retirement System’s holdings in Carrier Global were worth $44,269,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Kanawha Capital Management LLC lifted its stake in Carrier Global by 1.1% in the 4th quarter. Kanawha Capital Management LLC now owns 135,995 shares of the company’s stock valued at $9,283,000 after purchasing an additional 1,515 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Carrier Global by 2.0% in the 4th quarter. V Square Quantitative Management LLC now owns 17,635 shares of the company’s stock valued at $1,204,000 after purchasing an additional 346 shares during the last quarter. Catalyst Financial Partners LLC lifted its stake in Carrier Global by 6.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 3,698 shares of the company’s stock valued at $252,000 after purchasing an additional 210 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Carrier Global by 1.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 475,850 shares of the company’s stock valued at $32,786,000 after purchasing an additional 8,746 shares during the last quarter. Finally, TFC Financial Management Inc. lifted its stake in Carrier Global by 11.0% in the 4th quarter. TFC Financial Management Inc. now owns 4,330 shares of the company’s stock valued at $296,000 after purchasing an additional 428 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada dropped their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday. Barclays dropped 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. Finally, Bank of America raised 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 analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.64.

Carrier Global Trading Up 2.4 %

NYSE:CARR opened at $65.19 on Friday. 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 capitalization of $58.49 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. The firm has a fifty day simple moving average of $68.34 and a two-hundred day simple moving average of $72.28. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 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 period in the previous year, the business earned $0.53 earnings per share. Analysts expect that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

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

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.