Carrier Global Corporation $CARR Stock Bought by Retirement Systems of Alabama

Retirement Systems of Alabama grew its position in Carrier Global Corporation (NYSE:CARR) by 184.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 466,933 shares of the company’s stock after purchasing an additional 302,917 shares during the period. Retirement Systems of Alabama owned about 0.06% of Carrier Global worth $25,616,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in shares of Carrier Global in the second quarter valued at $590,759,000. Bank of America Corp DE bought a new position in shares of Carrier Global in the second quarter valued at about $572,908,000. Legal & General Group Plc bought a new position in shares of Carrier Global in the second quarter valued at about $322,366,000. Primecap Management Co. CA acquired a new position in Carrier Global during the 2nd quarter worth about $283,585,000. Finally, Deutsche Bank AG acquired a new position in Carrier Global during the 2nd quarter worth about $166,165,000. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CARR shares. Mizuho decreased their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Wells Fargo & Company dropped their target price on shares of Carrier Global from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. Sanford C. Bernstein reduced their target price on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 7th. JPMorgan Chase & Co. reduced their target price on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Finally, Weiss Ratings cut shares of Carrier Global from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, October 30th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.27.

Carrier Global Trading Down 0.6%

CARR stock opened at $53.02 on Wednesday. The company has a market cap of $43.38 billion, a P/E ratio of -23.88, a PEG ratio of 1.96 and a beta of 1.33. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $76.76. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average of $55.66 and a 200-day moving average of $61.63.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.09 billion. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. As a group, equities research analysts expect that Carrier Global Corporation will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, October 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. Carrier Global’s dividend payout ratio is presently -43.24%.

Carrier Global Company Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage. The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.