Busey Bank Has $855,000 Position in Carrier Global Co. (NYSE:CARR)

Busey Bank increased its position in shares of Carrier Global Co. (NYSE:CARR) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,532 shares of the company’s stock after buying 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.

Several other large investors have also recently added to or reduced their stakes in the company. RFG Advisory LLC raised its stake in shares of Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after purchasing an additional 1,904 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Carrier Global by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after buying an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after acquiring an additional 11,032 shares during the period. Miracle Mile Advisors LLC acquired a new stake in shares of Carrier Global during the 4th quarter valued at about $2,213,000. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in Carrier Global in the third quarter valued at about $1,068,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $65.90 on Friday. The stock has a market capitalization of $59.12 billion, a PE ratio of 16.68, a price-to-earnings-growth 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 company has a 50 day moving average price of $70.95 and a 200 day moving average price of $72.51. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32.

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

Carrier Global Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CARR. Royal Bank of Canada decreased their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Northcoast Research assumed coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. cut their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company lowered their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.