Busey Bank Has $896,000 Holdings in Carrier Global Co. (NYSE:CARR)

Busey Bank boosted its position in shares of Carrier Global Co. (NYSE:CARR) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,138 shares of the company’s stock after acquiring an additional 165 shares during the quarter. Busey Bank’s holdings in Carrier Global were worth $896,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CARR. Vanguard Group Inc. raised its stake in Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after acquiring an additional 466,829 shares during the period. Capital International Investors lifted its stake 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 worth $4,931,001,000 after buying an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 buying an additional 17,021,768 shares during the period. PineStone Asset Management Inc. grew its stake in Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after acquiring an additional 72,633 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.95% of the company’s stock.

Carrier Global Trading Up 1.4 %

Shares of CARR opened at $73.72 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $83.32. The firm has a market cap of $66.42 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 2.94 and a beta of 1.32. The business’s fifty day moving average is $76.46 and its 200-day moving average is $67.87.

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

Carrier Global announced that its board has approved a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CARR shares. Royal Bank of Canada decreased their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday. Mizuho upped their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Wells Fargo & Company lowered their price target on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Stephens downgraded shares of Carrier Global from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $75.00 to $85.00 in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.75.

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.