First Bank & Trust Acquires 555 Shares of Carrier Global Co. (NYSE:CARR)

First Bank & Trust lifted its holdings in Carrier Global Co. (NYSE:CARR) by 13.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,793 shares of the company’s stock after buying an additional 555 shares during the quarter. First Bank & Trust’s holdings in Carrier Global were worth $327,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CARR. FSM Wealth Advisors LLC increased its position in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the period. Meridian Wealth Management LLC increased its position in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the period. UMB Bank n.a. increased its position in Carrier Global by 1.1% in the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after purchasing an additional 143 shares during the period. Essex Savings Bank increased its position in Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after purchasing an additional 144 shares during the period. Finally, Chicago Partners Investment Group LLC increased its position in Carrier Global by 2.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock worth $403,000 after purchasing an additional 147 shares during the period. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on CARR shares. Wells Fargo & Company lowered their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Citigroup lowered their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays decreased their target price on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Stephens decreased their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.64.

Carrier Global Price Performance

Shares of CARR opened at $67.00 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The stock has a 50 day simple moving average of $67.60 and a 200 day simple moving average of $72.26. Carrier Global Co. has a 52-week low of $53.33 and a 52-week high of $83.32. The firm has a market capitalization of $58.18 billion, a PE ratio of 10.67, a P/E/G ratio of 1.94 and a beta of 1.35.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period last year, the firm posted $0.53 earnings per share. Sell-side analysts predict that Carrier Global Co. will post 2.98 EPS for the current fiscal year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.34%. Carrier Global’s payout ratio is presently 14.33%.

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

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.