Busey Bank Buys 165 Shares of Carrier Global Co. (NYSE:CARR)

Busey Bank raised its stake in Carrier Global Co. (NYSE:CARR) by 1.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 11,138 shares of the company’s stock after acquiring an additional 165 shares during the period. Busey Bank’s holdings in Carrier Global were worth $896,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CARR. JPMorgan Chase & Co. grew its holdings in Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. Capital International Investors boosted its position in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. boosted its position in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Carrier Global in the second quarter worth approximately $58,415,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Up 1.4 %

CARR opened at $73.72 on Friday. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The firm has a market capitalization of $66.42 billion, a P/E ratio of 51.55, a PEG ratio of 2.94 and a beta of 1.32. The company’s 50-day moving average is $76.46 and its 200 day moving average is $67.87. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, October 24th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.61 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Carrier Global declared that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

CARR has been the topic of a number of research reports. Oppenheimer boosted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective on the stock. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Stephens lowered Carrier Global from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $75.00 to $85.00 in a research report on Wednesday, October 16th. Finally, Barclays cut their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $81.75.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.95% of the company’s stock.

Carrier Global 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.