Teacher Retirement System of Texas Purchases 37,150 Shares of Carrier Global Corporation $CARR

Teacher Retirement System of Texas boosted its position in Carrier Global Corporation (NYSE:CARR) by 23.9% during the 2nd quarter, Holdings Channel reports. The fund owned 192,723 shares of the company’s stock after buying an additional 37,150 shares during the period. Teacher Retirement System of Texas’ holdings in Carrier Global were worth $14,105,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in shares of Carrier Global by 51.8% in the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock valued at $88,000 after purchasing an additional 474 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Carrier Global in the first quarter valued at approximately $400,000. Shell Asset Management Co. lifted its holdings in shares of Carrier Global by 98.4% in the second quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock valued at $1,768,000 after purchasing an additional 11,980 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Carrier Global by 1.5% in the second quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock valued at $5,369,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Aberdeen Group plc lifted its holdings in shares of Carrier Global by 1.8% in the first quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock valued at $44,854,000 after purchasing an additional 12,346 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $58.82 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The business has a fifty day simple moving average of $60.96 and a two-hundred day simple moving average of $66.99. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $81.09. The company has a market capitalization of $50.06 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.91 and a beta of 1.25.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global announced that its board has initiated a share buyback program on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is currently 19.61%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Carrier Global in a report on Wednesday, October 8th. Morgan Stanley dropped their target price on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Melius initiated coverage on Carrier Global in a report on Tuesday, July 1st. They set a “hold” rating and a $90.00 price target on the stock. Zacks Research lowered Carrier Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, Melius Research upgraded Carrier Global to a “hold” rating and set a $90.00 price target on the stock in a report on Tuesday, July 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.41.

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.