New Mexico Educational Retirement Board Buys 13,772 Shares of Carrier Global Corporation $CARR

New Mexico Educational Retirement Board raised its position in Carrier Global Corporation (NYSE:CARR) by 35.2% during the third quarter, Holdings Channel reports. The firm owned 52,889 shares of the company’s stock after purchasing an additional 13,772 shares during the period. New Mexico Educational Retirement Board’s holdings in Carrier Global were worth $2,901,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CARR. Bank of New York Mellon Corp bought a new stake in shares of Carrier Global in the 2nd quarter valued at $590,759,000. Bank of America Corp DE bought a new position in shares of Carrier Global in the second quarter valued at approximately $572,908,000. Legal & General Group Plc purchased a new stake in Carrier Global during the second quarter worth about $322,366,000. Primecap Management Co. CA purchased a new position in shares of Carrier Global during the 2nd quarter valued at $283,585,000. Finally, Deutsche Bank AG purchased a new stake in shares of Carrier Global during the 2nd quarter valued at approximately $166,165,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

CARR stock opened at $54.48 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76. The stock has a market capitalization of $44.57 billion, a PE ratio of -24.54, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. The stock’s 50 day simple moving average is $55.61 and its 200 day simple moving average is $61.62.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the previous year, the firm earned $0.67 EPS. Carrier Global’s revenue was up 12.3% on a year-over-year basis. As a group, research analysts forecast that Carrier Global Corporation will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global’s dividend payout ratio (DPR) is presently -43.24%.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of Carrier Global from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Sanford C. Bernstein cut their price target on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a research report on Wednesday, October 7th. Deutsche Bank decreased their target price on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Citigroup lowered their price target on Carrier Global from $80.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Finally, Zacks Research cut shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.27.

About Carrier Global

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage. The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.