Teachers Retirement System of The State of Kentucky Sells 3,671 Shares of Carrier Global Co. (NYSE:CARR)

Teachers Retirement System of The State of Kentucky decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,518 shares of the company’s stock after selling 3,671 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Carrier Global were worth $3,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Point Inc. bought a new stake in Carrier Global during the fourth quarter valued at about $240,000. Ballentine Partners LLC raised its stake in Carrier Global by 36.2% in the fourth quarter. Ballentine Partners LLC now owns 9,968 shares of the company’s stock valued at $573,000 after buying an additional 2,650 shares during the last quarter. Private Trust Co. NA raised its stake in Carrier Global by 9.8% in the fourth quarter. Private Trust Co. NA now owns 9,779 shares of the company’s stock valued at $562,000 after buying an additional 872 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Carrier Global by 13.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 489,403 shares of the company’s stock valued at $28,209,000 after buying an additional 59,308 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Carrier Global by 1,624.6% in the fourth quarter. International Assets Investment Management LLC now owns 554,393 shares of the company’s stock valued at $318,500,000 after buying an additional 522,246 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR traded down $2.07 during trading on Friday, hitting $63.99. The company’s stock had a trading volume of 3,556,949 shares, compared to its average volume of 3,753,714. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $70.09. The business’s fifty day simple moving average is $64.64 and its 200 day simple moving average is $60.24. The firm has a market capitalization of $57.77 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 2.63 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. On average, equities research analysts forecast that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $72.00 price objective on shares of Carrier Global in a research note on Friday, July 26th. Robert W. Baird reduced their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Oppenheimer reduced their price objective on Carrier Global from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, TD Cowen raised their target price on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has an average rating of “Hold” and an average target price of $66.77.

Insider Transactions at Carrier Global

In related news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Company 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.