Envestnet Asset Management Inc. Has $209.73 Million Stock Position in Carrier Global Corporation $CARR

Envestnet Asset Management Inc. boosted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,865,547 shares of the company’s stock after buying an additional 214,002 shares during the period. Envestnet Asset Management Inc.’s holdings in Carrier Global were worth $209,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CARR. Golden State Wealth Management LLC increased its position in Carrier Global by 51.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock worth $88,000 after purchasing an additional 474 shares during the last quarter. Ransom Advisory Ltd acquired a new position in Carrier Global in the 1st quarter worth about $400,000. Shell Asset Management Co. increased its position in Carrier Global by 98.4% in the 2nd quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock worth $1,768,000 after purchasing an additional 11,980 shares during the last quarter. Nordea Investment Management AB increased its position in Carrier Global by 1.5% in the 2nd quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock worth $5,369,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Aberdeen Group plc increased its position in Carrier Global by 1.8% in the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock worth $44,854,000 after purchasing an additional 12,346 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

CARR opened at $58.23 on Tuesday. The firm has a market capitalization of $49.55 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. The stock’s 50 day moving average price is $61.13 and its two-hundred day moving average price is $66.99. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $81.09.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. On average, equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be given a $0.225 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.5%. Carrier Global’s dividend payout ratio (DPR) is currently 19.61%.

Analysts Set New Price Targets

Several brokerages have weighed in on CARR. Barclays dropped their target price on Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, September 11th. The Goldman Sachs Group lowered their price objective on Carrier Global from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, September 12th. Zacks Research lowered Carrier Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Melius Research raised Carrier Global to a “hold” rating and set a $90.00 price objective on the stock in a report on Tuesday, July 1st. Finally, Robert W. Baird lowered their price objective on Carrier Global from $84.00 to $75.00 in a report on Thursday, September 11th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.41.

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.