Carrier Global Co. (NYSE:CARR) Stock Position Boosted by Bank of Hawaii

Bank of Hawaii lifted its stake in Carrier Global Co. (NYSE:CARR) by 9.2% in the third quarter, HoldingsChannel reports. The fund owned 14,719 shares of the company’s stock after purchasing 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 reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Olistico Wealth LLC bought a new stake in Carrier Global in the second quarter worth about $25,000. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co bought a new stake in shares of Carrier Global in the 3rd quarter worth approximately $37,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. Finally, Country Trust Bank bought a new stake in Carrier Global during the third quarter worth approximately $40,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

NYSE CARR opened at $77.00 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market capitalization of $69.09 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth 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 52-week low of $51.20 and a 52-week high of $83.32.

Carrier Global declared that its board has approved a stock repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Announces Dividend

The business 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. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. Carrier Global’s payout ratio is 19.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. started coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, November 13th. Northcoast Research initiated coverage on Carrier Global in a research report on Friday. They issued a “neutral” rating for the company. Stephens cut their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. 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. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $82.31.

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.