California Public Employees Retirement System Trims Stake in Carrier Global Co. (NYSE:CARR)

California Public Employees Retirement System cut its stake in Carrier Global Co. (NYSE:CARR) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,533,589 shares of the company’s stock after selling 44,054 shares during the period. California Public Employees Retirement System owned about 0.18% of Carrier Global worth $88,105,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CARR. Global Retirement Partners LLC grew its holdings in shares of Carrier Global by 12.1% in the third quarter. Global Retirement Partners LLC now owns 3,188 shares of the company’s stock worth $174,000 after purchasing an additional 343 shares during the last quarter. Ziegler Capital Management LLC bought a new position in shares of Carrier Global in the third quarter worth about $203,000. Avior Wealth Management LLC grew its holdings in shares of Carrier Global by 41.2% in the third quarter. Avior Wealth Management LLC now owns 983 shares of the company’s stock worth $54,000 after purchasing an additional 287 shares during the last quarter. Founders Financial Securities LLC bought a new position in shares of Carrier Global in the third quarter worth about $299,000. Finally, Cedar Brook Financial Partners LLC bought a new position in shares of Carrier Global in the third quarter worth about $259,000. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CARR has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and set a $63.00 target price on shares of Carrier Global in a report on Thursday, April 18th. Royal Bank of Canada dropped their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Barclays increased their target price on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.15.

Insiders Place Their Bets

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’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 transaction of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’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 transaction of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by insiders.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $54.77 on Thursday. The firm has a market capitalization of $49.30 billion, a P/E ratio of 34.66, a PEG ratio of 2.33 and a beta of 1.39. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The company has a 50 day moving average price of $56.34 and a 200 day moving average price of $54.76. Carrier Global Co. has a 52 week low of $40.28 and a 52 week high of $60.87.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the firm posted $0.40 EPS. Carrier Global’s revenue was down .1% on a year-over-year basis. Sell-side analysts expect that Carrier Global Co. will post 2.82 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio is presently 48.10%.

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.