Kentucky Retirement Systems Has $4.71 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Kentucky Retirement Systems decreased its position in Carrier Global Co. (NYSE:CARR) by 7.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 58,488 shares of the company’s stock after selling 4,656 shares during the period. Kentucky Retirement Systems’ holdings in Carrier Global were worth $4,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the second quarter valued at $25,000. Meeder Asset Management Inc. raised its stake in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $32,000. Hantz Financial Services Inc. bought a new position in shares of Carrier Global during the 2nd quarter worth about $35,000. Finally, McClarren Financial Advisors Inc. boosted its position in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $74.53 on Friday. The stock has a market capitalization of $66.87 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company has a 50 day moving average price of $77.73 and a 200 day moving average price of $69.83. Carrier Global Co. has a fifty-two week low of $51.20 and a fifty-two week high of $83.32.

Carrier Global declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is 19.24%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CARR. Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company dropped their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

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.