Public Sector Pension Investment Board Purchases 236,990 Shares of Carrier Global Corporation (NYSE:CARR)

Public Sector Pension Investment Board lifted its position in Carrier Global Corporation (NYSE:CARR) by 220.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 344,407 shares of the company’s stock after acquiring an additional 236,990 shares during the period. Public Sector Pension Investment Board’s holdings in Carrier Global were worth $21,835,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Carrier Global by 17.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after acquiring an additional 4,668,929 shares in the last quarter. Nuveen LLC bought a new position in shares of Carrier Global in the 1st quarter worth approximately $649,512,000. Brown Advisory Inc. raised its position in shares of Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock worth $613,330,000 after acquiring an additional 4,377,402 shares in the last quarter. Northern Trust Corp grew its stake in shares of Carrier Global by 16.7% in the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock worth $603,922,000 after buying an additional 1,266,137 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Carrier Global by 15.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company’s stock worth $473,046,000 after buying an additional 936,892 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CARR. Barclays cut their price target on Carrier Global from $84.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Robert W. Baird cut their price target on Carrier Global from $85.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 30th. Royal Bank Of Canada cut their price target on Carrier Global from $89.00 to $87.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 30th. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Friday, May 9th. Finally, Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.47.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the firm’s stock in a transaction on 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 directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.20% of the stock is currently owned by company insiders.

Carrier Global Stock Performance

CARR stock opened at $64.89 on Tuesday. The company has a market cap of $55.22 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The stock’s fifty day moving average price is $72.73 and its 200-day moving average price is $68.15.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. On average, equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, July 21st. Carrier Global’s dividend payout ratio (DPR) is 19.61%.

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.