Envestnet Asset Management Inc. Grows Stock Position in Carrier Global Corporation (NYSE:CARR)

Envestnet Asset Management Inc. boosted its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 13.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,651,545 shares of the company's stock after acquiring an additional 305,117 shares during the quarter. Envestnet Asset Management Inc. owned 0.31% of Carrier Global worth $168,108,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CARR. Norges Bank acquired a new position in Carrier Global in the 4th quarter valued at about $588,029,000. Wealthfront Advisers LLC grew its position in shares of Carrier Global by 5,840.1% during the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock worth $341,300,000 after buying an additional 4,915,826 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Carrier Global by 139.1% during the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock worth $361,544,000 after buying an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Carrier Global during the fourth quarter worth about $166,061,000. Finally, Invesco Ltd. grew its position in shares of Carrier Global by 40.3% during the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock worth $345,201,000 after buying an additional 1,453,247 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the sale, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.20% of the company's stock.

Carrier Global Stock Performance

NYSE CARR traded up $1.05 on Thursday, reaching $76.94. The stock had a trading volume of 3,461,635 shares, compared to its average volume of 4,698,730. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The business's 50-day moving average price is $72.44 and its 200 day moving average price is $67.57. The stock has a market cap of $65.96 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 2.07 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter in the previous year, the business earned $0.51 earnings per share. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's dividend payout ratio is currently 13.93%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Melius assumed coverage on Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective for the company. Mizuho set a $72.00 price objective on Carrier Global in a research report on Tuesday, April 22nd. Barclays boosted their price objective on Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada boosted their price objective on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Finally, Melius Research raised Carrier Global to a "hold" rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.82.

About Carrier Global

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.