New York State Common Retirement Fund Reduces Stake in Carrier Global Corporation (NYSE:CARR)

New York State Common Retirement Fund lessened its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,404,105 shares of the company's stock after selling 49,403 shares during the quarter. New York State Common Retirement Fund owned about 0.16% of Carrier Global worth $89,020,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in shares of Carrier Global by 1.6% during the first quarter. Arizona State Retirement System now owns 236,980 shares of the company's stock worth $15,025,000 after acquiring an additional 3,776 shares during the period. Harmony Asset Management LLC increased its position in Carrier Global by 2.4% during the first quarter. Harmony Asset Management LLC now owns 59,029 shares of the company's stock worth $3,742,000 after buying an additional 1,372 shares in the last quarter. Xponance Inc. boosted its holdings in Carrier Global by 0.8% in the first quarter. Xponance Inc. now owns 121,230 shares of the company's stock valued at $7,686,000 after acquiring an additional 968 shares during the last quarter. MJP Associates Inc. ADV grew its holdings in Carrier Global by 30.6% in the 1st quarter. MJP Associates Inc. ADV now owns 14,192 shares of the company's stock worth $900,000 after buying an additional 3,328 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in Carrier Global by 32.2% in the 1st quarter. Cerity Partners LLC now owns 172,901 shares of the company's stock worth $10,962,000 after buying an additional 42,092 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

NYSE CARR opened at $76.71 on Monday. 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 company has a market capitalization of $65.76 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.09 and a beta of 1.31. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The firm has a 50-day moving average price of $72.55 and a two-hundred day moving average price of $67.59.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. 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 firm posted $0.51 EPS. The firm's quarterly revenue was down 3.7% on a year-over-year basis. Analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's payout ratio is 13.93%.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the transaction, the director owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. This represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CARR shares. Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research note on Friday, May 9th. Barclays increased their target price on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Mizuho set a $72.00 price target on shares of Carrier Global in a research note on Tuesday, April 22nd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.82.

Carrier Global 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.

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