Maryland State Retirement & Pension System Increases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Maryland State Retirement & Pension System boosted its stake in Carrier Global Co. (NYSE:CARR) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,833 shares of the company’s stock after acquiring an additional 1,213 shares during the period. Maryland State Retirement & Pension System’s holdings in Carrier Global were worth $3,725,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. increased its position in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after buying an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Carrier Global during the fourth quarter valued at $25,000. OFI Invest Asset Management purchased a new position in shares of Carrier Global in the 3rd quarter worth about $28,000. Larson Financial Group LLC boosted its stake in Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after purchasing an additional 221 shares in the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in Carrier Global during the 3rd quarter valued at about $30,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR traded up $0.14 during trading on Tuesday, hitting $64.20. The company had a trading volume of 2,474,898 shares, compared to its average volume of 4,838,359. The stock has a 50 day simple moving average of $57.53 and a 200 day simple moving average of $55.24. The firm has a market capitalization of $57.84 billion, a P/E ratio of 44.89, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. Carrier Global Co. has a 12 month low of $40.49 and a 12 month high of $64.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. As a group, analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be given a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.18%. Carrier Global’s payout ratio is 53.15%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup increased their price target on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Robert W. Baird upped their price target on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Friday. Oppenheimer lifted their price objective on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Wells Fargo & Company raised their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada decreased their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Carrier Global currently has an average rating of “Hold” and a consensus target price of $62.71.

Insider Activity

In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Insiders have sold 541,005 shares of company stock worth $30,536,214 over the last ninety days. Corporate insiders own 6.95% of the company’s stock.

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.