New York State Common Retirement Fund Has $87.35 Million Stock Holdings in Carrier Global Corporation $CARR

New York State Common Retirement Fund grew its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 8.1% in the third quarter, Holdings Channel reports. The institutional investor owned 1,463,224 shares of the company’s stock after acquiring an additional 109,188 shares during the period. New York State Common Retirement Fund’s holdings in Carrier Global were worth $87,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Spirepoint Private Client LLC boosted its holdings in Carrier Global by 547.7% during the 3rd quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock worth $3,623,000 after acquiring an additional 51,324 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its position in shares of Carrier Global by 24.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after purchasing an additional 42,161 shares in the last quarter. Oak Thistle LLC purchased a new position in Carrier Global during the third quarter worth about $1,986,000. Triasima Portfolio Management inc. bought a new stake in Carrier Global in the 2nd quarter worth about $1,421,000. Finally, Brookstone Capital Management increased its stake in Carrier Global by 220.8% in the 3rd quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock valued at $3,096,000 after buying an additional 35,691 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CARR shares. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. UBS Group cut their price objective on Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Barclays decreased their target price on Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Wells Fargo & Company lowered their target price on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Finally, Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.06.

Carrier Global Stock Up 3.1%

CARR stock opened at $59.68 on Friday. The stock has a fifty day moving average of $54.43 and a 200-day moving average of $60.03. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $81.09. The company has a market capitalization of $50.26 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. As a group, equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, January 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is currently 21.48%.

Carrier Global announced that its Board of Directors has initiated a share repurchase plan on Tuesday, October 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.