5,370 Shares in Carrier Global Co. (NYSE:CARR) Bought by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division acquired a new position in shares of Carrier Global Co. (NYSE:CARR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,370 shares of the company’s stock, valued at approximately $308,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Modera Wealth Management LLC raised its position in Carrier Global by 19.4% in the third quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after purchasing an additional 3,430 shares during the last quarter. Pinnacle Financial Partners Inc raised its position in Carrier Global by 9.0% in the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after purchasing an additional 476 shares during the last quarter. Andrew Hill Investment Advisors Inc. bought a new position in Carrier Global in the fourth quarter valued at about $2,081,000. Nomura Holdings Inc. bought a new position in Carrier Global in the fourth quarter valued at about $973,000. Finally, AIA Group Ltd raised its position in Carrier Global by 16.5% in the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after purchasing an additional 14,003 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CARR shares. Barclays increased their target price on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Wells Fargo & Company raised their price objective on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. TD Cowen raised their price objective on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, Oppenheimer raised their price objective on Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.14.

Insider Activity

In other news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The disclosure for this sale can be found here. Insiders have sold 262,954 shares of company stock worth $16,650,050 over the last 90 days. 6.95% of the stock is currently owned by corporate insiders.

Carrier Global Stock Down 1.3 %

Carrier Global stock traded down $0.83 during mid-day trading on Tuesday, reaching $62.30. The stock had a trading volume of 2,658,473 shares, compared to its average volume of 4,493,703. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $66.50. The stock’s 50-day simple moving average is $63.82 and its 200-day simple moving average is $59.02. The firm has a market capitalization of $56.13 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 2.46 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The firm had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. On average, sell-side analysts forecast that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.22%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

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.