Asset Management One Co. Ltd. Purchases 8,746 Shares of Carrier Global Co. (NYSE:CARR)

Asset Management One Co. Ltd. grew its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 475,850 shares of the company's stock after purchasing an additional 8,746 shares during the period. Asset Management One Co. Ltd. owned about 0.05% of Carrier Global worth $32,786,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC grew its position in Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company's stock worth $702,603,000 after purchasing an additional 2,320,909 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Carrier Global during the third quarter valued at approximately $130,479,000. Mizuho Securities USA LLC lifted its holdings in Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company's stock worth $79,484,000 after acquiring an additional 922,892 shares during the period. International Assets Investment Management LLC boosted its position in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company's stock worth $730,250,000 after purchasing an additional 897,061 shares during the last quarter. Finally, State Street Corp grew its stake in Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company's stock valued at $2,709,736,000 after purchasing an additional 469,108 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Carrier Global stock traded up $0.99 during midday trading on Tuesday, reaching $66.12. 2,717,963 shares of the stock were exchanged, compared to its average volume of 5,795,697. The company's fifty day moving average is $68.01 and its 200-day moving average is $72.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The firm has a market cap of $59.32 billion, a PE ratio of 16.71, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period in the prior year, the firm earned $0.53 EPS. On average, sell-side analysts forecast that Carrier Global Co. will post 2.52 EPS for the current year.

Carrier Global announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, December 20th. This is an increase from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's dividend payout ratio (DPR) is 22.78%.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of research analyst reports. Royal Bank of Canada cut their price target on shares of Carrier Global from $86.00 to $76.00 and set an "outperform" rating on the stock in a report on Wednesday, February 12th. Citigroup reduced their target price on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Stephens lowered their price target on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their target price on Carrier Global from $83.00 to $77.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $82.64.

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.