Resona Asset Management Co. Ltd. Invests $16.67 Million in Carrier Global Co. (NYSE:CARR)

Resona Asset Management Co. Ltd. purchased a new stake in shares of Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 243,828 shares of the company’s stock, valued at approximately $16,667,000.

Several other institutional investors have also added to or reduced their stakes in CARR. RFG Advisory LLC increased its stake in shares of Carrier Global by 36.2% during the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares during the period. Princeton Global Asset Management LLC increased its position in Carrier Global by 1,156.1% during the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after purchasing an additional 19,018 shares during the period. Miracle Mile Advisors LLC bought a new position in Carrier Global in the 4th quarter worth $2,213,000. Waldron Private Wealth LLC lifted its position in shares of Carrier Global by 90.5% in the 4th quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company’s stock worth $1,128,000 after purchasing an additional 7,854 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Carrier Global by 761.6% during the 3rd quarter. Wellington Management Group LLP now owns 45,064 shares of the company’s stock valued at $3,627,000 after purchasing an additional 39,834 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR opened at $57.06 on Friday. The company has a market capitalization of $49.30 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a twelve month low of $53.33 and a twelve month high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $65.27 and a 200 day moving average of $71.31.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CARR. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Monday, February 24th. Royal Bank of Canada lowered their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their price target on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Citigroup lowered their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Barclays decreased their price target on shares of Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $82.27.

About Carrier Global

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.