Carrier Global Corporation $CARR Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Carrier Global Corporation (NYSE:CARR) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,385 shares of the company’s stock after selling 1,242 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Carrier Global were worth $19,277,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in Carrier Global by 51.8% in the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock valued at $88,000 after purchasing an additional 474 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Carrier Global by 15.7% in the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company’s stock valued at $1,823,000 after purchasing an additional 3,900 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in Carrier Global in the first quarter valued at $400,000. Shell Asset Management Co. boosted its holdings in Carrier Global by 98.4% in the second quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock valued at $1,768,000 after purchasing an additional 11,980 shares during the last quarter. Finally, Aberdeen Group plc boosted its holdings in Carrier Global by 1.8% in the first quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock valued at $44,854,000 after purchasing an additional 12,346 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup lowered their price target on shares of Carrier Global from $89.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, September 12th. Zacks Research lowered shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Melius Research raised shares of Carrier Global to a “hold” rating and set a $90.00 target price on the stock in a research note on Tuesday, July 1st. Robert W. Baird decreased their price target on shares of Carrier Global from $84.00 to $75.00 in a research note on Thursday, September 11th. Finally, Morgan Stanley decreased their price target on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Carrier Global presently has an average rating of “Hold” and a consensus target price of $75.67.

Carrier Global Stock Up 1.4%

CARR stock opened at $57.92 on Friday. The company has a market cap of $49.29 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.90 and a beta of 1.25. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $81.09. The firm has a 50-day moving average of $61.29 and a two-hundred day moving average of $66.97.

Carrier Global (NYSE:CARR) last announced 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 business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be issued a dividend of $0.225 per share. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is currently 19.61%.

Carrier Global Profile

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.