Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in Carrier Global Co. (NYSE:CARR)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,397 shares of the company’s stock after buying an additional 1,031 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Carrier Global were worth $4,274,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. C WorldWide Group Holding A S purchased a new stake in Carrier Global during the 3rd quarter valued at $260,761,000. Impax Asset Management Group plc lifted its holdings in Carrier Global by 6,362.1% in the third quarter. Impax Asset Management Group plc now owns 2,236,841 shares of the company’s stock valued at $123,474,000 after acquiring an additional 2,202,226 shares during the period. Envestnet Asset Management Inc. boosted its position in Carrier Global by 103.2% in the third quarter. Envestnet Asset Management Inc. now owns 2,600,774 shares of the company’s stock worth $143,563,000 after purchasing an additional 1,320,621 shares during the last quarter. FMR LLC boosted its position in Carrier Global by 18.3% in the third quarter. FMR LLC now owns 6,666,775 shares of the company’s stock worth $368,006,000 after purchasing an additional 1,033,484 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $48,735,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

NYSE CARR opened at $53.62 on Tuesday. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $60.87. The business has a 50-day moving average price of $56.32 and a 200-day moving average price of $54.75. The firm has a market cap of $48.26 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts predict that Carrier Global Co. will post 2.82 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a yield of 1.42%. Carrier Global’s payout ratio is 48.10%.

Insider Buying and Selling at Carrier Global

In other news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays raised their price objective on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Oppenheimer reiterated an “outperform” rating and set a $63.00 price target on shares of Carrier Global in a research note on Thursday, April 18th. Royal Bank of Canada cut their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Citigroup raised their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company lowered their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.15.

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.