Carrier Global Co. (NYSE:CARR) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,017 shares of the company’s stock after selling 1,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Carrier Global were worth $2,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kanawha Capital Management LLC boosted its position in Carrier Global by 1.1% during the fourth quarter. Kanawha Capital Management LLC now owns 135,995 shares of the company’s stock worth $9,283,000 after acquiring an additional 1,515 shares during the last quarter. V Square Quantitative Management LLC boosted its position in Carrier Global by 2.0% during the fourth quarter. V Square Quantitative Management LLC now owns 17,635 shares of the company’s stock worth $1,204,000 after acquiring an additional 346 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in Carrier Global by 6.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,698 shares of the company’s stock worth $252,000 after acquiring an additional 210 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Carrier Global by 1.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 475,850 shares of the company’s stock worth $32,786,000 after acquiring an additional 8,746 shares during the last quarter. Finally, TFC Financial Management Inc. boosted its holdings in Carrier Global by 11.0% in the 4th quarter. TFC Financial Management Inc. now owns 4,330 shares of the company’s stock valued at $296,000 after purchasing an additional 428 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of CARR opened at $65.19 on Friday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The firm’s 50 day moving average price is $68.17 and its 200 day moving average price is $72.30. The company has a market cap of $56.61 billion, a P/E ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the prior year, the company posted $0.53 EPS. On average, research analysts forecast that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global declared that its board has approved a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is presently 14.33%.

Wall Street Analyst Weigh In

CARR has been the topic of several recent analyst reports. Robert W. Baird decreased their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Stephens decreased their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Royal Bank of Canada decreased their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a report on Friday. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.64.

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.