Retirement Systems of Alabama Has $11 Million Position in Carrier Global Corporation (NYSE:CARR)

Retirement Systems of Alabama reduced its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 173,536 shares of the company's stock after selling 7,124 shares during the quarter. Retirement Systems of Alabama's holdings in Carrier Global were worth $11,002,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. BOK Financial Private Wealth Inc. lifted its holdings in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock worth $25,000 after purchasing an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Carrier Global in the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Carrier Global in the 4th quarter worth approximately $31,000. Finally, Mattson Financial Services LLC bought a new position in Carrier Global in the 4th quarter worth approximately $31,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CARR. JPMorgan Chase & Co. lifted their price target on Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Wells Fargo & Company lifted their price target on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Robert W. Baird lifted their price target on Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Finally, Barclays boosted their price objective on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Carrier Global Price Performance

Shares of CARR stock opened at $70.37 on Monday. The stock's fifty day moving average is $68.68 and its 200-day moving average is $67.21. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20. The stock has a market capitalization of $60.33 billion, a PE ratio of 10.89, a PEG ratio of 1.98 and a beta of 1.33. 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 announced its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The business's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. Equities research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

Insider Activity

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director now owns 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.20% of the stock is currently owned by insiders.

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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