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

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Carrier Global Co. (NYSE:CARR) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,304 shares of the company’s stock after acquiring an additional 1,820 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Carrier Global were worth $1,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the 3rd quarter worth about $28,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co purchased a new position in shares of Carrier Global during the 3rd quarter worth about $37,000. Country Trust Bank purchased a new position in shares of Carrier Global during the 3rd quarter worth about $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Carrier Global during the 3rd quarter worth about $44,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE CARR opened at $63.00 on Tuesday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The firm’s 50-day simple moving average is $70.51 and its 200 day simple moving average is $72.50. 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 stock has a market cap of $56.52 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.12 and a beta of 1.36.

Carrier Global announced that its Board of Directors has approved a stock repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a $0.225 dividend. The ex-dividend date of this dividend is 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 yield of 1.43%. Carrier Global’s payout ratio is 22.78%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.