Busey Bank Buys 1,394 Shares of Carrier Global Co. (NYSE:CARR)

Busey Bank grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 12.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,532 shares of the company’s stock after acquiring an additional 1,394 shares during the quarter. Busey Bank’s holdings in Carrier Global were worth $855,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. FSA Wealth Management LLC bought a new position in Carrier Global during the 3rd quarter worth approximately $28,000. McClarren Financial Advisors Inc. boosted its position 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 purchasing an additional 310 shares in the last quarter. Coastline Trust Co acquired a new position in shares of Carrier Global in the 3rd quarter valued at $37,000. Country Trust Bank bought a new stake in shares of Carrier Global in the 3rd quarter valued at $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in Carrier Global during the 3rd quarter worth $44,000. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating, eight 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 target price of $83.93.

Carrier Global Price Performance

Shares of NYSE CARR opened at $65.90 on Friday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The stock has a market capitalization of $59.12 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 2.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The business has a 50-day moving average of $70.95 and a 200-day moving average of $72.51.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.37%. Carrier Global’s payout ratio is 22.78%.

Carrier Global declared that its board has authorized a stock repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are 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.