Nomura Asset Management Co. Ltd. Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

Nomura Asset Management Co. Ltd. lifted its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 238,988 shares of the company's stock after buying an additional 15,609 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Carrier Global were worth $19,236,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in Carrier Global in the third quarter valued at about $28,000. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after buying an additional 310 shares during the last quarter. Coastline Trust Co bought a new position in Carrier Global in the 3rd quarter valued at approximately $37,000. Meeder Asset Management Inc. boosted its position in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company's stock worth $29,000 after buying an additional 405 shares during the period. Finally, Country Trust Bank bought a new stake in Carrier Global during the 3rd quarter worth approximately $40,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Up 1.2 %

Shares of CARR traded up $0.90 during trading hours on Wednesday, hitting $73.71. The stock had a trading volume of 3,394,815 shares, compared to its average volume of 4,199,828. The firm has a 50 day simple moving average of $76.94 and a 200-day simple moving average of $71.19. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. 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 firm has a market capitalization of $66.13 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is an increase from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.22%. Carrier Global's payout ratio is currently 19.24%.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CARR shares. Stephens cut 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. Royal Bank of Canada cut their target price on Carrier Global from $91.00 to $87.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on Carrier Global in a report on Thursday, October 10th. They issued a "neutral" rating and a $83.00 target price on the stock. Finally, Northcoast Research started coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $82.54.

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.