Teacher Retirement System of Texas Has $14.11 Million Position in Carrier Global Corporation $CARR

Teacher Retirement System of Texas boosted its position in Carrier Global Corporation (NYSE:CARR) by 23.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,723 shares of the company’s stock after purchasing an additional 37,150 shares during the period. Teacher Retirement System of Texas’ holdings in Carrier Global were worth $14,105,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Costello Asset Management INC increased its holdings in Carrier Global by 4.2% in the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after purchasing an additional 127 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Carrier Global by 1.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after purchasing an additional 150 shares in the last quarter. Penobscot Investment Management Company Inc. increased its holdings in Carrier Global by 0.7% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after purchasing an additional 155 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock worth $779,000 after purchasing an additional 156 shares in the last quarter. Finally, Code Waechter LLC increased its holdings in Carrier Global by 5.1% in the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock worth $214,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CARR shares. Melius started coverage on Carrier Global in a research note on Tuesday, July 1st. They issued a “hold” rating and a $90.00 price target for the company. Barclays decreased their price target on Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a research note on Thursday, September 11th. Wells Fargo & Company decreased their price target on Carrier Global from $75.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft decreased their price target on Carrier Global from $73.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, September 23rd. Finally, The Goldman Sachs Group decreased their price target on Carrier Global from $88.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, September 12th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.41.

Carrier Global Trading Up 0.9%

NYSE CARR opened at $58.82 on Wednesday. The business has a 50 day simple moving average of $60.96 and a 200 day simple moving average of $66.99. Carrier Global Corporation has a one year low of $54.22 and a one year high of $81.09. The stock has a market capitalization of $50.06 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.91 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The firm’s revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be issued a $0.225 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.5%. Carrier Global’s dividend payout ratio is presently 19.61%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Carrier Global 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.