Russell Investments Group Ltd. Has $116.97 Million Stock Holdings in Carrier Global Corporation (NYSE:CARR)

Key Points

• Russell Investments Group Ltd. increased its stake in Carrier Global Corporation by 5.5%, owning 1,845,290 shares worth approximately $116.97 million according to its latest SEC filing.
• Insider activity revealed that Director Maximilian Viessmann sold over 4.26 million shares for nearly $300 million, representing a 7.28% decrease in his position.
• Analysts have a mixed outlook on Carrier Global, with ratings from "buy" to "neutral" and an average target price of $84.47, reflecting a strong interest in the company's potential despite varied expectations.

Russell Investments Group Ltd. raised its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,845,290 shares of the company's stock after acquiring an additional 96,327 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of Carrier Global worth $116,972,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its position in shares of Carrier Global by 51.8% during the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock valued at $88,000 after buying an additional 474 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Carrier Global by 15.7% during the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock valued at $1,823,000 after buying an additional 3,900 shares during the last quarter. Ensign Peak Advisors Inc raised its position in Carrier Global by 27.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after purchasing an additional 285,803 shares in the last quarter. Sowell Financial Services LLC acquired a new position in Carrier Global in the first quarter worth about $234,000. Finally, Ritholtz Wealth Management raised its position in Carrier Global by 34.0% in the first quarter. Ritholtz Wealth Management now owns 3,968 shares of the company's stock worth $252,000 after purchasing an additional 1,007 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Insider Transactions at Carrier Global

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 value of $299,999,977.50. Following the transaction, the director directly owned 54,341,534 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CARR. Mizuho set a $72.00 price target on shares of Carrier Global in a research report on Tuesday, April 22nd. Royal Bank Of Canada dropped their price target on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Robert W. Baird dropped their price target on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Barclays dropped their price target on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Finally, Citigroup reissued a "buy" rating and issued a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.47.

Carrier Global Price Performance

Shares of CARR traded down $0.32 during mid-day trading on Friday, hitting $65.44. 2,968,204 shares of the company traded hands, compared to its average volume of 5,259,797. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. 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 business has a 50-day moving average of $72.32 and a 200 day moving average of $68.11. The stock has a market capitalization of $55.69 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.81 and a beta of 1.25.

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

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were paid a $0.225 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 19.61%.

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.