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

First Bank & Trust lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 7.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,238 shares of the company’s stock after purchasing 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.

A number of other hedge funds also recently bought and sold shares of CARR. Nordea Investment Management AB increased its holdings in shares of Carrier Global by 5.5% in the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares during the period. Frank Rimerman Advisors LLC lifted its position in Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after purchasing an additional 13,677 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Carrier Global by 50.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Carrier Global during the 1st quarter valued at $2,019,000. Finally, Kintegral Advisory LLC raised its stake in shares of Carrier Global by 44.2% during the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after acquiring an additional 8,705 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Insiders Place Their Bets

In other Carrier Global 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 transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

CARR stock traded up $1.01 on Friday, hitting $73.72. The company had a trading volume of 5,301,655 shares, compared to its average volume of 4,155,103. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $83.32. The stock has a market cap of $66.42 billion, a price-to-earnings ratio of 51.55, a P/E/G ratio of 2.94 and a beta of 1.32. The stock’s 50-day simple moving average is $76.46 and its 200 day simple moving average is $67.87.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

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

Carrier Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CARR. Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley initiated coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Stephens cut Carrier Global from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $75.00 to $85.00 in a research report on Wednesday, October 16th. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.75.

Carrier Global Company 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.