Hamilton Capital LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Hamilton Capital LLC purchased a new position in shares of Carrier Global Co. (NYSE:CARR) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,808 shares of the company’s stock, valued at approximately $226,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC grew its stake in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares in the last quarter. Meridian Wealth Management LLC grew its position in shares of Carrier Global by 2.3% during the third 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 increased its stake in shares of Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after buying an additional 144 shares during the period. Boston Financial Mangement LLC raised its holdings in Carrier Global by 1.7% in 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% in the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after purchasing an additional 150 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on CARR. Stephens dropped their target price 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. Royal Bank of Canada reduced their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target for the company. Northcoast Research initiated coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $82.54.

Carrier Global Stock Performance

Shares of CARR stock opened at $73.67 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $66.10 billion, a PE ratio of 18.65, a P/E/G ratio of 2.73 and a beta of 1.33. Carrier Global Co. has a 1 year low of $52.54 and a 1 year high of $83.32. The stock has a fifty day moving average price of $77.22 and a 200 day moving average price of $71.08.

Carrier Global announced that its Board of Directors has approved a share 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 reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.22%. Carrier Global’s payout ratio is currently 19.24%.

Carrier Global Company 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.