Tiaa Fsb holds $2 million equity position in Carrier Global Co. (NYSE:CARR)


Tiaa Fsb reduced its stake in the shares of Carrier Global Co. (NYSE: CARRGet a rating) by 3.9% in the 1st quarter, according to its last Form 13F filed with the Securities & Exchange Commission. The fund held 43,584 shares of the company after selling 1,782 shares during the period. Tiaa Fsb’s holdings in Carrier Global were worth $1,997,000 at the end of last quarter.

A number of other hedge funds have also recently changed their CARR holdings. PrairieView Partners LLC increased its equity stake in Carrier Global by 111.9% during the fourth quarter. PrairieView Partners LLC now owns 481 shares of the company worth $26,000 after purchasing an additional 254 shares during the period. Equitec Proprietary Markets LLC bought a new position in Carrier Global in the fourth quarter worth approximately $26,000. Intelligent Financial Strategies bought a new position in Carrier Global in the fourth quarter worth about $27,000. TAP Consulting LLC acquired a new stake in Carrier Global in the fourth quarter worth approximately $33,000. Finally, Amplius Wealth Advisors LLC acquired a new stake in Carrier Global in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors hold 85.55% of the company’s shares.

CARR opened at $36.30 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.31 and a debt ratio of 1.12. The company has a market capitalization of $30.79 billion, a price-earnings ratio of 12.02, a PEG ratio of 1.77 and a beta of 1.36. The company’s 50-day moving average is $38.61 and its 200-day moving average is $44.60. Carrier Global Co. has a 12-month low of $34.12 and a 12-month high of $58.89.

Global Carrier (NYSE: CARRGet a rating) last released its quarterly results on Thursday, April 28. The company reported earnings per share of $0.54 for the quarter, beating the consensus estimate of $0.47 by $0.07. Carrier Global had a net margin of 12.93% and a return on equity of 28.53%. The company posted revenue of $4.65 billion for the quarter, versus a consensus estimate of $4.55 billion. In the same quarter of the previous year, the company made earnings per share of $0.48. The company’s revenue for the quarter decreased 1.0% year over year. As a group, analysts predict Carrier Global Co. will post EPS of 2.29 for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 10. Investors of record on Thursday, June 23 will receive a dividend of $0.15. This represents an annualized dividend of $0.60 and a yield of 1.65%. The ex-dividend date is Wednesday, June 22. Carrier Global’s dividend payout ratio is currently 19.87%.

A number of stock analysts have recently commented on the stock. Goldman Sachs Group cut its price target on Carrier Global shares from $53.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday. TheStreet downgraded Carrier Global shares from a “b-” rating to a “c” rating in a Friday, April 29 research note. Bank of America downgraded Carrier Global shares from a “buy” rating to a “neutral” rating in a Wednesday, May 18 research note. Deutsche Bank Aktiengesellschaft cut its price target on Carrier Global shares from $55.00 to $49.00 in a Friday, April 29 research report. Finally, Barclays cut its price target on Carrier Global shares from $55.00 to $50.00 and set an “overweight” rating for the company in a Tuesday, May 24 research report. Eleven analysts gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat, Carrier Global has an average rating of “Hold” and a consensus target price of $53.44.

About Carrier Global (Get a rating)

Carrier Global Corporation provides heating, ventilation and air conditioning (HVAC), refrigeration, fire, security and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration and Fire & Security. The HVAC segment provides products, controls, services and solutions to meet the heating, cooling and ventilation needs of residential and commercial customers.

Further reading

Want to see which other hedge funds hold CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Co. (NYSE: CARRGet a rating).

Institutional ownership by quarter for Carrier Global (NYSE:CARR)



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