Arizona State Retirement System Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

Arizona State Retirement System grew its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 234,850 shares of the company’s stock after acquiring an additional 2,876 shares during the period. Arizona State Retirement System’s holdings in Carrier Global were worth $14,814,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after acquiring an additional 43,002 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of Carrier Global during the fourth quarter worth about $973,000. Versor Investments LP acquired a new position in Carrier Global in the fourth quarter worth about $1,132,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Carrier Global by 50.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after buying an additional 130,192 shares during the last quarter. Finally, GLOBALT Investments LLC GA acquired a new stake in Carrier Global during the fourth quarter valued at approximately $859,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CARR. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday. Royal Bank of Canada increased their target price on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday. Robert W. Baird decreased their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $69.38.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $69.53 on Friday. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $73.06. The company has a market cap of $62.65 billion, a PE ratio of 48.62, a P/E/G ratio of 2.90 and a beta of 1.32. The stock has a 50 day simple moving average of $66.98 and a 200-day simple moving average of $62.48. 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 (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during 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%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, equities research analysts forecast that Carrier Global Co. will post 2.84 EPS for the current year.

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.