Carrier Global Corporation $CARR Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Carrier Global stake by 398.7% in the third quarter, adding 457,414 shares to own 572,153 shares valued at approximately $31.4 million. Institutional investors collectively own 91% of the company.
• Carrier reported quarterly earnings of $0.86 per share, exceeding analyst expectations of $0.82, while revenue reached $6.35 billion versus the $6.02 billion consensus estimate.
• Carrier declared a quarterly dividend of $0.24 per share, equivalent to an annualized $0.96 dividend and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $70.43 compared with the stock’s $54.90 opening price.

Assenagon Asset Management S.A. lifted its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 398.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 572,153 shares of the company's stock after buying an additional 457,414 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of Carrier Global worth $31,388,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Carrier Global in the second quarter valued at $590,759,000. Bank of America Corp DE purchased a new position in Carrier Global during the 2nd quarter worth approximately $572,908,000. Dimensional Fund Advisors LP grew its stake in Carrier Global by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company's stock worth $354,188,000 after buying an additional 246,723 shares during the last quarter. Legal & General Group Plc acquired a new position in Carrier Global during the second quarter worth approximately $322,366,000. Finally, Primecap Management Co. CA purchased a new position in shares of Carrier Global during the second quarter worth approximately $283,585,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Trading Down 0.1%

NYSE CARR opened at $54.90 on Friday. The stock has a market capitalization of $45.26 billion, a P/E ratio of 38.12, a P/E/G ratio of 1.88 and a beta of 1.29. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $76.76. The firm has a 50-day moving average price of $57.60 and a 200 day moving average price of $62.79. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The firm's revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Equities research analysts expect that Carrier Global Corporation will post 2.87 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, October 29th. Carrier Global's dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho decreased their price target on shares of Carrier Global from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday. Citigroup increased their target price on shares of Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Friday, October 9th. They set a "neutral" rating and a $61.00 target price for the company. Sanford C. Bernstein lowered their price target on Carrier Global from $78.00 to $64.00 and set a "market perform" rating on the stock in a report on Wednesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a research report on Wednesday, September 30th. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Carrier Global has an average rating of "Moderate Buy" and a consensus target price of $70.43.

Carrier Global 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, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.

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