Carrier Global Corporation $CARR Stock Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board grew its stake in shares of Carrier Global Corporation (NYSE:CARR) by 35.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,889 shares of the company’s stock after buying an additional 13,772 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Carrier Global were worth $2,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of CARR. Bank of New York Mellon Corp purchased a new position in Carrier Global during the 2nd quarter valued at about $590,759,000. Bank of America Corp DE bought a new stake in shares of Carrier Global in the second quarter valued at approximately $572,908,000. Dimensional Fund Advisors LP increased its stake in Carrier Global by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock valued at $354,188,000 after acquiring an additional 246,723 shares during the period. Legal & General Group Plc acquired a new stake in shares of Carrier Global during the 2nd quarter valued at about $322,366,000. Finally, Primecap Management Co. CA acquired a new position in Carrier Global during the second quarter worth $283,585,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CARR shares. Sanford C. Bernstein cut their price target on Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a report on Wednesday, October 7th. Weiss Ratings downgraded Carrier Global from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, October 30th. Wells Fargo & Company decreased their price objective on Carrier Global from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Citigroup decreased their price objective on shares of Carrier Global from $80.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Finally, Deutsche Bank reduced their price objective on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, September 30th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.27.

Carrier Global Stock Up 2.8%

CARR stock opened at $54.48 on Thursday. The business has a 50-day simple moving average of $55.61 and a 200 day simple moving average of $61.62. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company has a market cap of $44.57 billion, a PE ratio of -24.54, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Carrier Global Corporation will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be given a $0.24 dividend. The ex-dividend date is Thursday, October 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. Carrier Global’s dividend payout ratio (DPR) is currently -43.24%.

Carrier Global Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage. The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.