California State Teachers Retirement System Sells 39,427 Shares of Carrier Global Co. (NYSE:CARR)

California State Teachers Retirement System lessened its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,258,392 shares of the company's stock after selling 39,427 shares during the period. California State Teachers Retirement System owned 0.15% of Carrier Global worth $85,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Carrier Global in the 4th quarter valued at about $588,029,000. Wealthfront Advisers LLC increased its holdings in shares of Carrier Global by 5,840.1% during the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock valued at $341,300,000 after acquiring an additional 4,915,826 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Carrier Global during the fourth quarter worth approximately $166,061,000. Raymond James Financial Inc. bought a new position in shares of Carrier Global in the 4th quarter worth $108,433,000. Finally, Invesco Ltd. grew its position in Carrier Global by 40.3% in the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock valued at $345,201,000 after purchasing an additional 1,453,247 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CARR. Royal Bank of Canada raised their price objective on shares of Carrier Global from $71.00 to $82.00 and gave the company an "outperform" rating in a research note on Friday. Wolfe Research raised Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research note on Monday, February 24th. Wells Fargo & Company cut their target price on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 12th. Mizuho set a $72.00 price target on Carrier Global in a research report on Tuesday, April 22nd. Finally, Citigroup cut their price objective on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $80.86.

Carrier Global Stock Performance

Carrier Global stock traded up $1.80 during trading on Friday, hitting $71.60. The stock had a trading volume of 6,134,359 shares, compared to its average volume of 4,512,428. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The stock's 50 day moving average is $63.06 and its two-hundred day moving average is $68.21. Carrier Global Co. has a 1 year low of $54.22 and a 1 year high of $83.32. The stock has a market cap of $61.86 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the prior year, the company earned $0.51 EPS. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, analysts predict that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, May 2nd. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

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.