Resona Asset Management Co. Ltd. Grows Stake in Carrier Global Corporation (NYSE:CARR)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Carrier Global Corporation by 7.5%, owning 262,122 shares worth $16.6 million after acquiring 18,294 shares during the first quarter.
• Analysts have set a new average price target of $84.47 for Carrier Global, with seven analysts rating it as "hold" and ten as "buy."
• Director Maximilian Viessmann sold over 4.26 million shares at $70.30, representing a 7.28% decrease in his ownership of the stock.

Resona Asset Management Co. Ltd. increased its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,122 shares of the company's stock after buying an additional 18,294 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Carrier Global were worth $16,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Syon Capital LLC increased its stake in shares of Carrier Global by 2.2% during the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock valued at $484,000 after buying an additional 155 shares during the period. Lindbrook Capital LLC increased its stake in shares of Carrier Global by 1.3% during the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock valued at $779,000 after buying an additional 156 shares during the period. Code Waechter LLC increased its stake in shares of Carrier Global by 5.1% during the first quarter. Code Waechter LLC now owns 3,383 shares of the company's stock valued at $214,000 after buying an additional 164 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of Carrier Global by 2.9% during the first quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock valued at $424,000 after buying an additional 168 shares during the period. Finally, Essex Financial Services Inc. increased its stake in shares of Carrier Global by 0.4% during the first quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock valued at $2,649,000 after buying an additional 173 shares during the period. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

CARR stock traded down $0.32 during trading on Friday, reaching $65.44. The stock had a trading volume of 2,968,204 shares, compared to its average volume of 5,259,797. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The stock's 50 day moving average is $72.32 and its two-hundred day moving average is $68.11. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The firm has a market cap of $55.69 billion, a PE ratio of 14.26, a PEG ratio of 1.81 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. As a group, equities analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were given a $0.225 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.4%. Carrier Global's dividend payout ratio is presently 19.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CARR shares. Mizuho set a $72.00 target price on Carrier Global in a research note on Tuesday, April 22nd. Robert W. Baird reduced their price target on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 price target on shares of Carrier Global in a research note on Tuesday, July 15th. Royal Bank Of Canada reduced their price target on Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Finally, Citigroup reaffirmed a "buy" rating and issued a $89.00 price target (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and an average target price of $84.47.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the sale, the director owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 7.20% of the stock is currently owned by insiders.

Carrier Global Company 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.