State of Michigan Retirement System Has $15.46 Million Position in Carrier Global Co. (NYSE:CARR)

State of Michigan Retirement System cut its holdings in Carrier Global Co. (NYSE:CARR) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 226,425 shares of the company’s stock after selling 2,200 shares during the quarter. State of Michigan Retirement System’s holdings in Carrier Global were worth $15,456,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CARR. Farther Finance Advisors LLC increased its position in shares of Carrier Global by 4.3% during the third quarter. Farther Finance Advisors LLC now owns 7,198 shares of the company’s stock worth $579,000 after acquiring an additional 294 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in Carrier Global during the 3rd quarter worth about $237,000. Intact Investment Management Inc. bought a new position in Carrier Global during the 3rd quarter worth about $969,000. National Pension Service raised its stake in shares of Carrier Global by 7.8% in the 3rd quarter. National Pension Service now owns 1,898,739 shares of the company’s stock valued at $152,830,000 after purchasing an additional 137,971 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in shares of Carrier Global by 8.9% in the third quarter. QRG Capital Management Inc. now owns 67,272 shares of the company’s stock valued at $5,415,000 after purchasing an additional 5,512 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CARR. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Monday, February 24th. Citigroup lowered their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.47.

Carrier Global Trading Down 1.9 %

Carrier Global stock opened at $62.04 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The stock has a 50-day simple moving average of $66.89 and a 200 day simple moving average of $72.35. The stock has a market capitalization of $53.60 billion, a P/E ratio of 9.88, a PEG ratio of 2.01 and a beta of 1.35. Carrier Global Co. has a 52 week low of $53.33 and a 52 week high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the prior year, the company posted $0.53 earnings per share. Analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a $0.225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.45%. Carrier Global’s dividend payout ratio is presently 14.33%.

About Carrier Global

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.