Assetmark Inc. Acquires 13,106 Shares of Carrier Global Co. (NYSE:CARR)

Assetmark Inc. raised its position in Carrier Global Co. (NYSE:CARR - Free Report) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 297,666 shares of the company's stock after purchasing an additional 13,106 shares during the quarter. Assetmark Inc.'s holdings in Carrier Global were worth $23,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company's stock valued at $5,481,077,000 after buying an additional 466,829 shares in the last quarter. Capital International Investors boosted its holdings in shares of Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company's stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company's stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares in the last quarter. PineStone Asset Management Inc. increased its stake in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company's stock valued at $404,903,000 after acquiring an additional 3,741,206 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Carrier Global by 1.7% during the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company's stock worth $280,010,000 after purchasing an additional 72,633 shares in the last quarter. Institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Wells Fargo & Company lowered their target price on Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. Barclays cut their price target on shares of Carrier Global from $90.00 to $89.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Baird R W raised shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 15th. Finally, Wolfe Research raised shares of Carrier Global from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $81.33.

Carrier Global Stock Up 2.1 %

NYSE:CARR traded up $1.55 during trading hours on Friday, hitting $76.68. 3,403,874 shares of the stock traded hands, compared to its average volume of 3,986,720. The firm has a 50 day moving average price of $77.19 and a 200 day moving average price of $69.29. The firm has a market cap of $68.80 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.71 and a beta of 1.34. Carrier Global Co. has a fifty-two week low of $50.31 and a fifty-two week high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, October 25th. Carrier Global's dividend payout ratio (DPR) is presently 19.24%.

Carrier Global announced that its Board of Directors has initiated a stock buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

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.