63,122 Carrier Global Corporation $CARR Shares Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Carrier Global stake by 917.7% in the third quarter, purchasing 63,122 additional shares for a total holding of 70,000 shares worth approximately $3.84 million. Institutional investors collectively own 91% of the company.
• Carrier reported stronger-than-expected quarterly results, with EPS of $0.87 versus the $0.76 consensus estimate and revenue of $6.26 billion, up 12.3% year over year. The company also declared a quarterly dividend of $0.24 per share, representing a 1.7% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $69.27 compared with the stock’s recent opening price of $55.14, although several firms recently reduced their targets or downgraded the shares.

International Assets Investment Management LLC boosted its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 917.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,000 shares of the company's stock after buying an additional 63,122 shares during the period. International Assets Investment Management LLC's holdings in Carrier Global were worth $3,840,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CARR. Dynamic Advisor Solutions LLC boosted its position in shares of Carrier Global by 2.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company's stock worth $426,000 after purchasing an additional 158 shares during the period. Texas Bank & Trust Co increased its holdings in Carrier Global by 1.3% in the 1st quarter. Texas Bank & Trust Co now owns 13,176 shares of the company's stock valued at $742,000 after purchasing an additional 175 shares during the last quarter. Personal CFO Solutions LLC increased its holdings in Carrier Global by 0.7% in the 1st quarter. Personal CFO Solutions LLC now owns 24,671 shares of the company's stock valued at $1,389,000 after purchasing an additional 181 shares during the last quarter. Brookstone Capital Management raised its position in Carrier Global by 3.2% in the third quarter. Brookstone Capital Management now owns 6,192 shares of the company's stock valued at $340,000 after purchasing an additional 194 shares during the period. Finally, PFG Investments LLC raised its position in Carrier Global by 2.8% in the first quarter. PFG Investments LLC now owns 7,242 shares of the company's stock valued at $408,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Stock Up 2.8%

Shares of NYSE CARR opened at $55.14 on Tuesday. The stock has a market cap of $45.45 billion, a P/E ratio of -24.84, a PEG ratio of 1.92 and a beta of 1.29. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76. The business's fifty day simple moving average is $56.27 and its 200-day simple moving average is $61.71.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.11. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the business posted $0.67 earnings per share. Carrier Global's revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts predict that Carrier Global Corporation will post 2.87 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. Carrier Global's payout ratio is currently -43.24%.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price target on Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a research note on Wednesday, September 30th. Citigroup dropped their price objective on Carrier Global from $80.00 to $71.00 and set a "buy" rating for the company in a research note on Friday. Wolfe Research reiterated an "outperform" rating and issued a $80.00 price objective on shares of Carrier Global in a report on Thursday, July 9th. The Goldman Sachs Group cut Carrier Global from a "buy" rating to a "neutral" rating and lowered their target price for the company from $74.00 to $61.00 in a report on Wednesday, October 14th. Finally, JPMorgan Chase & Co. dropped their target price on Carrier Global from $61.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.27.

Carrier Global Company Profile

Carrier Global Corporation NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.

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