Maryland State Retirement & Pension System Acquires 1,213 Shares of Carrier Global Co. (NYSE:CARR)

Maryland State Retirement & Pension System grew its stake in Carrier Global Co. (NYSE:CARR) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,833 shares of the company’s stock after purchasing an additional 1,213 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Carrier Global were worth $3,725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CARR. McClarren Financial Advisors Inc. lifted its stake in Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after buying an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Carrier Global in the 4th quarter worth $25,000. OFI Invest Asset Management bought a new position in Carrier Global during the 3rd quarter worth about $28,000. Larson Financial Group LLC increased its holdings in Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after purchasing an additional 221 shares in the last quarter. Finally, VisionPoint Advisory Group LLC acquired a new position in shares of Carrier Global during the third quarter worth about $30,000. 91.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. Insiders sold 541,005 shares of company stock valued at $30,536,214 in the last three months. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

NYSE CARR traded up $0.14 on Tuesday, reaching $64.20. The stock had a trading volume of 2,474,898 shares, compared to its average volume of 4,838,359. Carrier Global Co. has a 1-year low of $40.49 and a 1-year high of $64.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The company has a market cap of $57.84 billion, a P/E ratio of 44.89, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. The firm has a fifty day moving average of $57.53 and a two-hundred day moving average of $55.24.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. On average, equities research analysts anticipate that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays upped their price target on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Robert W. Baird raised their target price on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday. Oppenheimer boosted their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Royal Bank of Canada decreased their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, Citigroup upped their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $62.71.

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.