California State Teachers Retirement System Lowers Position in Carrier Global Co. (NYSE:CARR)

California State Teachers Retirement System reduced its position in Carrier Global Co. (NYSE:CARR) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,258,392 shares of the company’s stock after selling 39,427 shares during the period. California State Teachers Retirement System’s holdings in Carrier Global were worth $85,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Carrier Global by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock valued at $1,181,300,000 after acquiring an additional 420,081 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Carrier Global by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock worth $977,028,000 after acquiring an additional 46,222 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock worth $603,922,000 after buying an additional 1,266,137 shares in the last quarter. Norges Bank acquired a new position in shares of Carrier Global during the 4th quarter worth approximately $588,029,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Carrier Global by 2.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,080,842 shares of the company’s stock valued at $415,078,000 after acquiring an additional 126,174 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. Barclays dropped their price objective on Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their target price on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Finally, Citigroup decreased their target price on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.73.

Carrier Global Stock Up 0.8 %

Shares of NYSE CARR opened at $60.55 on Tuesday. The firm’s 50-day simple moving average is $63.10 and its 200 day simple moving average is $68.64. The company has a market cap of $52.31 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 12-month low of $54.22 and a 12-month high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating the consensus estimate 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 in the previous year, the company posted $0.53 EPS. On average, research analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is 14.33%.

Carrier Global 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.