First Bank & Trust Acquires 291 Shares of Carrier Global Co. (NYSE:CARR)

First Bank & Trust grew its holdings in shares of Carrier Global Co. (NYSE:CARR) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,238 shares of the company’s stock after buying an additional 291 shares during the quarter. First Bank & Trust’s holdings in Carrier Global were worth $341,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Olistico Wealth LLC acquired a new position in Carrier Global during the second quarter worth $25,000. Meeder Asset Management Inc. raised its holdings in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC acquired a new stake in Carrier Global in the 2nd quarter valued at about $32,000. Register Financial Advisors LLC acquired a new stake in Carrier Global in the 1st quarter valued at about $34,000. Finally, Hantz Financial Services Inc. bought a new position in Carrier Global during the second quarter worth about $35,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.95% of the stock is owned by corporate insiders.

Carrier Global Price Performance

Shares of NYSE:CARR traded up $1.01 during trading on Friday, hitting $73.72. 5,301,655 shares of the company were exchanged, compared to its average volume of 4,155,103. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $83.32. The company has a market capitalization of $66.42 billion, a P/E ratio of 51.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The business’s 50 day moving average is $76.46 and its 200-day moving average is $67.87.

Carrier Global (NYSE:CARR) last issued 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 firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.61 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Equities analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current year.

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

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders 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 annualized dividend and a dividend yield of 1.03%. Carrier Global’s dividend payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CARR shares. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective on the stock. Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley began coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.75.

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.