Sumitomo Mitsui Trust Group Inc. Purchases 16,993 Shares of Carrier Global Co. (NYSE:CARR)

Sumitomo Mitsui Trust Group Inc. raised its position in Carrier Global Co. (NYSE:CARR) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,879,036 shares of the company’s stock after buying an additional 16,993 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Carrier Global were worth $128,263,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CARR. FMR LLC boosted its stake in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after buying an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Carrier Global during the third quarter valued at approximately $130,479,000. Mizuho Securities USA LLC grew its stake in Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after purchasing an additional 922,892 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after purchasing an additional 469,108 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Northcoast Research assumed coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Bank of America boosted their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Mizuho raised their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Price Performance

Carrier Global stock opened at $64.17 on Friday. The stock’s fifty day moving average price is $69.45 and its two-hundred day moving average price is $72.35. The firm has a market cap of $57.58 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

Carrier Global declared that its board has approved a stock repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.