Carrier Global Co. (NYSE:CARR) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Carrier Global Co. (NYSE:CARR) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,484 shares of the company’s stock after buying an additional 1,283 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Carrier Global were worth $1,890,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CARR. Frank Rimerman Advisors LLC boosted its position in Carrier Global by 54,708.0% during the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after acquiring an additional 13,677 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Carrier Global in the first quarter valued at approximately $2,019,000. Kintegral Advisory LLC increased its holdings in shares of Carrier Global by 44.2% in the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after purchasing an additional 8,705 shares during the last quarter. Rockport Wealth LLC acquired a new stake in shares of Carrier Global in the first quarter valued at approximately $478,000. Finally, Foster Victor Wealth Advisors LLC purchased a new position in Carrier Global during the second quarter worth approximately $7,720,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CARR. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird reduced their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Barclays lowered their price objective on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday. Finally, Royal Bank of Canada decreased their price target on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $74.97 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 52 week low of $51.20 and a 52 week high of $83.32. The firm’s 50 day moving average is $77.51 and its two-hundred day moving average is $69.66. The firm has a market capitalization of $67.27 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.71 and a beta of 1.34.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.01%. Carrier Global’s dividend payout ratio is currently 19.24%.

Carrier Global announced that its board has authorized a stock buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.