Assetmark Inc. Increases Stake in Carrier Global Corporation $CARR

Assetmark Inc. raised its holdings in Carrier Global Corporation (NYSE:CARR) by 5.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 464,548 shares of the company’s stock after acquiring an additional 26,003 shares during the quarter. Assetmark Inc.’s holdings in Carrier Global were worth $27,733,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AdvisorShares Investments LLC purchased a new stake in Carrier Global during the 2nd quarter worth about $25,000. Winnow Wealth LLC purchased a new stake in shares of Carrier Global during the second quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Carrier Global in the second quarter valued at approximately $26,000. Clayton Financial Group LLC purchased a new position in Carrier Global in the third quarter worth approximately $26,000. Finally, Traub Capital Management LLC acquired a new position in Carrier Global during the 2nd quarter worth approximately $27,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Up 0.8%

Shares of NYSE:CARR opened at $65.43 on Friday. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $81.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85. The stock has a market cap of $54.69 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.33. The firm has a fifty day moving average price of $56.59 and a 200 day moving average price of $58.88.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the company posted $0.54 earnings per share. Carrier Global’s quarterly revenue was down 6.0% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Sell-side analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.5%. Carrier Global’s dividend payout ratio is presently 56.14%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Argus lifted their price target on Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, February 9th. JPMorgan Chase & Co. upped their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Morgan Stanley set a $55.00 target price on Carrier Global in a research report on Thursday, January 8th. Finally, Barclays lowered their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and an average target price of $70.60.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.