Envestnet Asset Management Inc. Purchases 305,117 Shares of Carrier Global Corporation (NYSE:CARR)

Envestnet Asset Management Inc. increased its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,651,545 shares of the company's stock after purchasing an additional 305,117 shares during the quarter. Envestnet Asset Management Inc. owned about 0.31% of Carrier Global worth $168,108,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Carrier Global by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock worth $1,181,300,000 after purchasing an additional 420,081 shares during the last quarter. Northern Trust Corp lifted its stake in Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock worth $603,922,000 after purchasing an additional 1,266,137 shares during the last quarter. Norges Bank bought a new stake in Carrier Global during the fourth quarter worth about $588,029,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Carrier Global by 15.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock worth $473,046,000 after buying an additional 936,892 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Carrier Global by 2.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,080,842 shares of the company's stock worth $415,078,000 after buying an additional 126,174 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their price objective on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a report on Friday, May 9th. Mizuho set a $72.00 price objective on Carrier Global in a report on Tuesday, April 22nd. Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 price objective on the stock in a report on Tuesday, July 1st. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and an average price target of $83.82.

Carrier Global Stock Down 0.1%

Shares of CARR traded down $0.06 during mid-day trading on Friday, reaching $76.71. The company had a trading volume of 3,805,081 shares, compared to its average volume of 4,701,381. The company has a market capitalization of $65.76 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 2.09 and a beta of 1.31. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20. The firm has a 50-day moving average price of $72.55 and a 200 day moving average price of $67.61.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The firm's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. On average, sell-side analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be given a $0.225 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.17%. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

Insider Transactions at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director directly owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.20% of the company's stock.

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.