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

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,834 shares of the company’s stock after buying an additional 1,802 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Carrier Global were worth $6,748,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Carrier Global in the 4th quarter valued at approximately $209,000. RFG Advisory LLC raised its position in Carrier Global by 14.9% in the 1st quarter. RFG Advisory LLC now owns 5,779 shares of the company’s stock worth $336,000 after buying an additional 749 shares during the last quarter. Gulf International Bank UK Ltd grew its stake in shares of Carrier Global by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 69,001 shares of the company’s stock worth $4,011,000 after acquiring an additional 440 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Carrier Global by 6.8% during the first quarter. International Assets Investment Management LLC now owns 10,309 shares of the company’s stock valued at $592,000 after purchasing an additional 659 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in Carrier Global by 35.7% during the first quarter. Ballentine Partners LLC now owns 13,524 shares of the company’s stock valued at $786,000 after purchasing an additional 3,556 shares during the period. 91.00% of the stock is owned by institutional investors.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Stephens lowered shares of Carrier Global from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $75.00 to $85.00 in a research report on Wednesday. Finally, Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Carrier Global Price Performance

NYSE CARR opened at $81.55 on Friday. The stock has a market cap of $73.48 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $83.32. The company’s 50 day moving average is $75.32 and its two-hundred day moving average is $67.22. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $0.79 EPS. As a group, research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is currently 53.15%.

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.