Mandatum Life Insurance Co Ltd Has $4.23 Million Stock Holdings in Carrier Global Corporation (NYSE:CARR)

Mandatum Life Insurance Co Ltd lifted its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 59.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 66,715 shares of the company's stock after buying an additional 24,815 shares during the quarter. Carrier Global comprises about 1.3% of Mandatum Life Insurance Co Ltd's portfolio, making the stock its 20th largest holding. Mandatum Life Insurance Co Ltd's holdings in Carrier Global were worth $4,230,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE lifted 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 worth $26,000 after purchasing an additional 180 shares during the period. Park Square Financial Group LLC bought a new position in Carrier Global during the fourth quarter valued at about $28,000. Investment Research & Advisory Group Inc. purchased a new stake in Carrier Global in the first quarter valued at approximately $29,000. Mattson Financial Services LLC purchased a new stake in Carrier Global in the fourth quarter valued at approximately $31,000. Finally, Meeder Asset Management Inc. raised its stake in Carrier Global by 236.1% in the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock valued at $33,000 after purchasing an additional 340 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Insiders Place Their Bets

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction 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 transaction, the director owned 54,341,534 shares in the company, 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. 7.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CARR. Melius began coverage on shares of Carrier Global in a report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 target price on the stock. Mizuho set a $72.00 target price on shares of Carrier Global in a report on Tuesday, April 22nd. Citigroup reaffirmed 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. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.65.

Carrier Global Stock Down 0.2%

Shares of CARR traded down $0.12 during mid-day trading on Friday, reaching $76.81. The company's stock had a trading volume of 389,747 shares, compared to its average volume of 4,661,656. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The company's 50 day moving average is $73.00 and its 200 day moving average is $67.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. The stock has a market cap of $65.85 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. The company had revenue of $5.22 billion during 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 revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. Equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed 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. This represents a $0.90 annualized dividend and a yield of 1.17%. The ex-dividend date is Monday, July 21st. Carrier Global's payout ratio is currently 13.93%.

Carrier Global 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.

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