Teacher Retirement System of Texas Sells 73,625 Shares of Carrier Global Corporation $CARR

Teacher Retirement System of Texas decreased its position in shares of Carrier Global Corporation (NYSE:CARR) by 38.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,098 shares of the company’s stock after selling 73,625 shares during the period. Teacher Retirement System of Texas’ holdings in Carrier Global were worth $7,110,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CARR. Brighton Jones LLC boosted its holdings in Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after purchasing an additional 1,850 shares during the period. AQR Capital Management LLC increased its holdings in shares of Carrier Global by 51.5% during the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock worth $4,236,000 after purchasing an additional 23,200 shares during the period. Kathmere Capital Management LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $200,000. ORG Partners LLC boosted its stake in shares of Carrier Global by 192.2% in the second quarter. ORG Partners LLC now owns 754 shares of the company’s stock valued at $56,000 after buying an additional 496 shares during the period. Finally, Investment Advisory Services Inc. TX ADV grew its position in Carrier Global by 14.9% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 11,470 shares of the company’s stock worth $840,000 after buying an additional 1,488 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 0.2%

Shares of NYSE CARR opened at $57.40 on Tuesday. The company has a market cap of $48.34 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 2.30 and a beta of 1.31. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $81.09. The stock has a 50-day moving average price of $54.00 and a two-hundred day moving average price of $60.18.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company posted $0.83 EPS. As a group, analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global declared that its Board of Directors has approved a share buyback plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. Carrier Global’s payout ratio is presently 21.48%.

Analysts Set New Price Targets

Several brokerages have weighed in on CARR. Mizuho dropped their price objective on Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Barclays decreased their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Royal Bank Of Canada cut their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Finally, Zacks Research upgraded shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average target price of $69.06.

Carrier Global Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.