Camden National Bank Invests $210,000 in Carrier Global Co. (NYSE:CARR)

Camden National Bank purchased a new position in shares of Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,606 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds have also made changes to their positions in the company. Olistico Wealth LLC purchased a new stake in shares of Carrier Global during the second quarter worth approximately $25,000. Meeder Asset Management Inc. increased its stake in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global during the second quarter worth approximately $32,000. Hantz Financial Services Inc. purchased a new stake in shares of Carrier Global during the second quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. increased its stake in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $77.00 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market cap of $69.09 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.73 and a beta of 1.34. The company’s 50 day simple moving average is $77.88 and its 200-day simple moving average is $70.28. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32.

Carrier Global announced that its Board of Directors has authorized a stock buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Dividend Announcement

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

Analysts Set New Price Targets

CARR has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday. They issued a “neutral” rating on the stock. Mizuho increased their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Carrier Global presently 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.