Assetmark Inc. Purchases 26,003 Shares of Carrier Global Corporation $CARR

Assetmark Inc. raised its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 464,548 shares of the company’s stock after acquiring an additional 26,003 shares during the quarter. Assetmark Inc. owned approximately 0.06% of Carrier Global worth $27,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CARR. AdvisorShares Investments LLC bought a new position in shares of Carrier Global during the second quarter worth $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Carrier Global during the second quarter valued at about $26,000. Winnow Wealth LLC purchased a new stake in shares of Carrier Global in the second quarter worth about $26,000. Traub Capital Management LLC bought a new position in Carrier Global during the second quarter valued at approximately $27,000. Finally, Clayton Financial Group LLC purchased a new position in Carrier Global during the 3rd quarter valued at approximately $26,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR opened at $65.43 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $81.09. The firm has a 50 day moving average of $56.59 and a two-hundred day moving average of $58.88. The firm has a market capitalization of $54.69 billion, a PE ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.33.

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

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Tuesday, January 20th were issued a $0.24 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $0.96 annualized dividend and a dividend yield of 1.5%. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio (DPR) is presently 56.14%.

Carrier Global announced that its Board of Directors has initiated a share buyback program on Tuesday, October 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 10.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. CICC Research reduced their price objective on Carrier Global from $76.85 to $69.78 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley set a $55.00 target price on Carrier Global in a research report on Thursday, January 8th. Citigroup increased their price target on Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a report on Friday, February 6th. Argus lifted their price objective on shares of Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Robert W. Baird increased their target price on shares of Carrier Global from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Twelve 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. Based on data from MarketBeat.com, the stock currently 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.