Assetmark Inc. Has $25.20 Million Holdings in Carrier Global Corporation (NYSE:CARR)

Key Points

• Assetmark Inc. has increased its stake in Carrier Global Corporation by 20.3% during the first quarter, holding a total of 397,501 shares valued at approximately $25.2 million.
• Brokerages have shown positive sentiment towards Carrier Global, with ten analysts giving it a buy rating and a consensus price target of $84.65.
• Carrier Global announced a quarterly dividend of $0.225 per share, reflecting an annualized yield of 1.11%, set to be paid on August 8th.

Assetmark Inc. lifted its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 20.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 397,501 shares of the company's stock after buying an additional 66,964 shares during the period. Assetmark Inc.'s holdings in Carrier Global were worth $25,202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CARR. Ritter Daniher Financial Advisory LLC DE increased its position in shares of Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after buying an additional 180 shares in the last quarter. Park Square Financial Group LLC acquired a new position in Carrier Global in the fourth quarter valued at about $28,000. Investment Research & Advisory Group Inc. bought a new stake in shares of Carrier Global in the first quarter worth about $29,000. Mattson Financial Services LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth about $31,000. Finally, Meeder Asset Management Inc. grew its position in shares of Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock valued at $33,000 after purchasing an additional 340 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CARR has been the topic of a number of research reports. Melius initiated coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Royal Bank Of Canada dropped their target price on Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a research report on Wednesday. Barclays lowered their price objective on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Citigroup restated a "buy" rating and set a $89.00 target price (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and an average target price of $84.47.

Carrier Global Stock Performance

NYSE CARR traded down $2.14 during trading on Wednesday, reaching $69.54. 3,255,280 shares of the company's stock were exchanged, compared to its average volume of 5,307,374. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The stock has a market capitalization of $59.61 billion, a P/E ratio of 10.76, a PEG ratio of 2.19 and a beta of 1.31. The business has a 50 day moving average price of $73.57 and a 200-day moving average price of $68.33. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Sell-side analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be paid a $0.225 dividend. The ex-dividend date is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. Carrier Global's dividend payout ratio (DPR) is currently 13.93%.

Insiders Place Their Bets

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