Carrier Global Co. (NYSE:CARR) Shares Purchased by Bank of Hawaii

Bank of Hawaii raised its stake in Carrier Global Co. (NYSE:CARR) by 9.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,719 shares of the company’s stock after acquiring an additional 1,243 shares during the quarter. Bank of Hawaii’s holdings in Carrier Global were worth $1,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FSM Wealth Advisors LLC boosted its stake in shares of Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after purchasing an additional 136 shares during the period. Meridian Wealth Management LLC lifted its holdings in Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after buying an additional 137 shares in the last quarter. Essex Savings Bank boosted its position in Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after buying an additional 144 shares during the last quarter. Boston Financial Mangement LLC grew its stake in shares of Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after acquiring an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC increased its position in shares of Carrier Global by 4.9% during the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after acquiring an additional 150 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of analyst reports. Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. began coverage on Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, November 13th. Barclays dropped their target price on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Oppenheimer increased their price target on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Stock Up 1.3 %

Carrier Global stock opened at $77.00 on Monday. The firm has a market capitalization of $69.09 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.77 and a beta of 1.34. The company has a 50-day simple moving average of $77.88 and a 200-day simple moving average of $70.32. Carrier Global Co. has a one year low of $51.20 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global declared that its Board of Directors has initiated a stock buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

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.