Retirement Systems of Alabama Sells 4,121 Shares of Carrier Global Co. (NYSE:CARR)

Retirement Systems of Alabama decreased its stake in Carrier Global Co. (NYSE:CARR) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,660 shares of the company’s stock after selling 4,121 shares during the period. Retirement Systems of Alabama’s holdings in Carrier Global were worth $12,332,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CARR. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. raised its position in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of Carrier Global during the third quarter valued at about $37,000. Capital Performance Advisors LLP acquired a new position in shares of Carrier Global in the third quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Carrier Global in the third quarter valued at approximately $50,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Down 1.6 %

CARR opened at $64.17 on Friday. The company has a fifty day moving average price of $69.45 and a two-hundred day moving average price of $72.35. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a market cap of $57.58 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global declared that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is 22.78%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America boosted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Barclays reduced their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Citigroup cut their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stephens decreased their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Finally, Wells Fargo & Company cut their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.