Assetmark Inc. Boosts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Assetmark Inc. raised its holdings in Carrier Global Co. (NYSE:CARR) by 84.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,700 shares of the company’s stock after purchasing an additional 87,996 shares during the period. Assetmark Inc.’s holdings in Carrier Global were worth $11,071,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CARR. Larson Financial Group LLC grew its stake in Carrier Global by 76.2% during the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after acquiring an additional 221 shares in the last quarter. US Bancorp DE grew its stake in Carrier Global by 4.6% during the third quarter. US Bancorp DE now owns 320,736 shares of the company’s stock valued at $17,705,000 after acquiring an additional 14,084 shares in the last quarter. Hartline Investment Corp purchased a new position in Carrier Global during the third quarter valued at approximately $243,000. Signaturefd LLC grew its stake in Carrier Global by 6.8% during the third quarter. Signaturefd LLC now owns 14,653 shares of the company’s stock valued at $809,000 after acquiring an additional 932 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Carrier Global by 11.9% during the third quarter. EverSource Wealth Advisors LLC now owns 5,407 shares of the company’s stock valued at $298,000 after acquiring an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 1.1 %

Carrier Global stock traded down $0.76 during mid-day trading on Wednesday, reaching $65.46. 872,629 shares of the company traded hands, compared to its average volume of 4,673,903. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The firm’s 50 day moving average price is $59.34 and its 200 day moving average price is $56.56. The firm has a market capitalization of $58.98 billion, a price-to-earnings ratio of 46.31, a P/E/G ratio of 2.78 and a beta of 1.34. Carrier Global Co. has a 52-week low of $40.49 and a 52-week high of $66.50.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Cowen lifted their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Barclays lifted their target price on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Oppenheimer lifted their target price on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Royal Bank of Canada dropped their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.71.

Insider Transactions at Carrier Global

In other news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the sale, the vice president now directly owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the sale, the vice president now directly owns 85,028 shares in the company, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

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.