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

Asset Management One Co. Ltd. grew its holdings in Carrier Global Co. (NYSE:CARR) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 475,850 shares of the company’s stock after purchasing an additional 8,746 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.05% of Carrier Global worth $32,786,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CARR. FSM Wealth Advisors LLC raised its position in shares of Carrier Global by 2.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after acquiring an additional 136 shares during the period. Meridian Wealth Management LLC raised its position in shares of Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after acquiring an additional 137 shares during the period. UMB Bank n.a. raised its position in shares of Carrier Global by 1.1% in the 4th quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after acquiring an additional 143 shares during the period. Essex Savings Bank raised its position in shares of Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after acquiring an additional 144 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in shares of Carrier Global by 2.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock valued at $403,000 after acquiring an additional 147 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE CARR opened at $65.19 on Friday. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average is $68.34 and its 200-day moving average is $72.28. The company has a market capitalization of $58.49 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period in the previous year, the firm earned $0.53 earnings per share. Equities research analysts anticipate that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

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

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a $0.225 dividend. The ex-dividend date was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company dropped their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday. Barclays dropped their target price on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada dropped their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $82.64.

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.