State of Michigan Retirement System Has $13.31 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

State of Michigan Retirement System trimmed its holdings in shares of Carrier Global Co. (NYSE:CARR) by 0.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 228,925 shares of the company’s stock after selling 800 shares during the quarter. State of Michigan Retirement System’s holdings in Carrier Global were worth $13,307,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CARR. Beese Fulmer Investment Management Inc. raised its position in shares of Carrier Global by 0.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock worth $1,119,000 after acquiring an additional 181 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Carrier Global by 2.3% in the first quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after buying an additional 182 shares during the period. Graypoint LLC grew its holdings in Carrier Global by 1.9% during the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after acquiring an additional 184 shares during the period. Sovereign Financial Group Inc. raised its position in shares of Carrier Global by 4.7% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock valued at $243,000 after acquiring an additional 188 shares during the last quarter. Finally, McClarren Financial Advisors Inc. lifted its stake in shares of Carrier Global by 86.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of a number of recent analyst reports. Barclays upped their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Wells Fargo & Company lifted their price target on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird upped their price objective on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Oppenheimer boosted their target price on Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Finally, Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Carrier Global currently has a consensus rating of “Hold” and an average price target of $64.14.

Insider Activity at Carrier Global

In related news, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 262,954 shares of company stock valued at $16,650,050. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $62.85 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The business has a fifty day simple moving average of $63.50 and a two-hundred day simple moving average of $58.79. The firm has a market capitalization of $56.63 billion, a P/E ratio of 43.95, a P/E/G ratio of 2.46 and a beta of 1.32. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $66.50.

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

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

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.