Arizona State Retirement System Increases Holdings in Carrier Global Corporation (NYSE:CARR)

Arizona State Retirement System raised its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,980 shares of the company's stock after buying an additional 3,776 shares during the period. Arizona State Retirement System's holdings in Carrier Global were worth $15,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CARR. Ritter Daniher Financial Advisory LLC DE increased its holdings in Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after purchasing an additional 180 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $28,000. Mattson Financial Services LLC purchased a new position in shares of Carrier Global during the fourth quarter valued at approximately $31,000. Investment Research & Advisory Group Inc. bought a new position in shares of Carrier Global during the first quarter valued at approximately $29,000. Finally, Meeder Asset Management Inc. lifted its stake in Carrier Global by 236.1% in the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock worth $33,000 after acquiring an additional 340 shares during the period. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CARR. Robert W. Baird lifted their target price on shares of Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research note on Friday, May 9th. Royal Bank Of Canada upped their price target on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Wells Fargo & Company raised their price objective on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Citigroup dropped their target price 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. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $83.82.

Carrier Global Stock Performance

CARR traded down $0.06 during midday trading on Friday, hitting $76.71. 3,805,081 shares of the company traded hands, compared to its average volume of 4,701,381. The company's 50-day moving average is $72.55 and its 200 day moving average is $67.61. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $65.76 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.09 and a beta of 1.31. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The company's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. On average, research analysts expect that Carrier Global Corporation 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 Friday, August 8th. Investors of record on Monday, July 21st will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's payout ratio is 13.93%.

Insider Transactions at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.20% of the company's stock.

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.