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

Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,863 shares of the company’s stock after acquiring an additional 1,262 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Carrier Global were worth $1,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Hartline Investment Corp boosted its holdings in Carrier Global by 58.5% in the fourth quarter. Hartline Investment Corp now owns 6,983 shares of the company’s stock valued at $401,000 after acquiring an additional 2,577 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Carrier Global by 50.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,200 shares of the company’s stock worth $184,000 after purchasing an additional 1,077 shares in the last quarter. Cumberland Partners Ltd acquired a new position in shares of Carrier Global during the fourth quarter worth about $5,762,000. GAMMA Investing LLC acquired a new position in shares of Carrier Global in the fourth quarter worth about $484,000. Finally, Harbor Advisors LLC lifted its stake in shares of Carrier Global by 75.4% in the fourth quarter. Harbor Advisors LLC now owns 13,000 shares of the company’s stock worth $747,000 after acquiring an additional 5,589 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Carrier Global Stock Performance

Shares of NYSE:CARR traded up $0.22 during trading on Friday, hitting $60.03. 1,390,400 shares of the company traded hands, compared to its average volume of 4,750,422. The stock has a market capitalization of $54.03 billion, a price-to-earnings ratio of 37.99, a PEG ratio of 2.31 and a beta of 1.39. The business’s fifty day moving average is $56.41 and its 200-day moving average is $54.79. Carrier Global Co. has a one year low of $40.28 and a one year high of $60.87. 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 (NYSE:CARR) last posted its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.50 by $0.12. The company had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. As a group, equities analysts predict that Carrier Global Co. will post 2.82 earnings per share 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. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is presently 48.10%.

Insider Activity

In related news, CEO David L. Gitlin sold 354,539 shares of the 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 completion of the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David L. Gitlin sold 354,539 shares of the 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 completion of the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

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.