Texas Permanent School Fund Trims Position in Carrier Global Co. (NYSE:CARR)

Texas Permanent School Fund trimmed its holdings in Carrier Global Co. (NYSE:CARRGet Rating) by 7.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 110,967 shares of the company’s stock after selling 8,559 shares during the quarter. Texas Permanent School Fund’s holdings in Carrier Global were worth $5,090,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital Research Global Investors raised its holdings in Carrier Global by 16.7% during the fourth quarter. Capital Research Global Investors now owns 69,450,096 shares of the company’s stock worth $3,766,967,000 after purchasing an additional 9,951,763 shares in the last quarter. Capital World Investors raised its holdings in Carrier Global by 8.5% during the fourth quarter. Capital World Investors now owns 65,581,967 shares of the company’s stock worth $3,557,121,000 after purchasing an additional 5,135,409 shares in the last quarter. State Street Corp raised its holdings in Carrier Global by 2.4% during the fourth quarter. State Street Corp now owns 36,737,089 shares of the company’s stock worth $1,998,054,000 after purchasing an additional 876,829 shares in the last quarter. Bank of America Corp DE raised its holdings in Carrier Global by 1.1% during the fourth quarter. Bank of America Corp DE now owns 20,675,405 shares of the company’s stock worth $1,121,435,000 after purchasing an additional 218,963 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Carrier Global by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 16,524,821 shares of the company’s stock worth $894,043,000 after purchasing an additional 439,530 shares in the last quarter. 85.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CARR. Deutsche Bank Aktiengesellschaft cut their price target on shares of Carrier Global from $49.00 to $43.00 in a report on Monday, July 18th. Barclays dropped their target price on shares of Carrier Global from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Morgan Stanley increased their target price on shares of Carrier Global from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Bank of America cut shares of Carrier Global from a “buy” rating to a “neutral” rating in a report on Wednesday, May 18th. Finally, The Goldman Sachs Group dropped their target price on shares of Carrier Global from $53.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Carrier Global presently has an average rating of “Hold” and a consensus price target of $48.73.

Carrier Global Stock Performance

Carrier Global stock opened at $41.88 on Friday. The firm has a market capitalization of $35.25 billion, a P/E ratio of 13.34, a PEG ratio of 2.00 and a beta of 1.34. The stock has a fifty day moving average price of $37.50 and a 200 day moving average price of $41.47. Carrier Global Co. has a 52 week low of $34.12 and a 52 week high of $58.89. The company has a current ratio of 1.67, a quick ratio of 1.25 and a debt-to-equity ratio of 1.19.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Thursday, June 23rd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, June 22nd. This represents a $0.60 annualized dividend and a yield of 1.43%. Carrier Global’s dividend payout ratio is presently 19.11%.

Carrier Global Profile

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Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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