Carrier Global Corporation $CARR Stock Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 184.7% in the third quarter, Holdings Channel.com reports. The fund owned 466,933 shares of the company’s stock after buying an additional 302,917 shares during the quarter. Retirement Systems of Alabama’s holdings in Carrier Global were worth $25,616,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fulcrum Asset Management LLP increased its holdings in Carrier Global by 31.4% in the third quarter. Fulcrum Asset Management LLP now owns 9,313 shares of the company’s stock valued at $530,000 after purchasing an additional 2,224 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Carrier Global by 6.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 40,351 shares of the company’s stock valued at $2,228,000 after buying an additional 2,393 shares during the period. StoneRidge PMG Advisors LLC bought a new position in Carrier Global during the third quarter worth about $469,000. University of Texas Texas AM Investment Management Co. boosted its holdings in Carrier Global by 695.7% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 5,785 shares of the company’s stock worth $317,000 after buying an additional 5,058 shares during the last quarter. Finally, Means Investment CO. Inc. boosted its holdings in Carrier Global by 14.0% during the third quarter. Means Investment CO. Inc. now owns 14,234 shares of the company’s stock worth $781,000 after buying an additional 1,746 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $53.02 on Wednesday. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. The firm has a market cap of $43.38 billion, a PE ratio of -23.88, a P/E/G ratio of 1.96 and a beta of 1.33. The business’s 50-day moving average price is $55.66 and its two-hundred day moving average price is $61.63.

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

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Investors 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 annualized dividend and a dividend yield of 1.8%. Carrier Global’s payout ratio is currently -43.24%.

Analyst Ratings Changes

A number of brokerages have recently commented on CARR. Weiss Ratings cut Carrier Global from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, October 30th. Zacks Research downgraded shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Citigroup reduced their price objective on shares of Carrier Global from $80.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, September 30th. Finally, Sanford C. Bernstein lowered their target price on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a research note on Wednesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.27.

Carrier Global Company 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.