Foundations Investment Advisors LLC Purchases 163 Shares of Carrier Global Co. (NYSE:CARR)

Foundations Investment Advisors LLC boosted its position in Carrier Global Co. (NYSE:CARR) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,779 shares of the company’s stock after acquiring an additional 163 shares during the period. Foundations Investment Advisors LLC’s holdings in Carrier Global were worth $465,000 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. Olistico Wealth LLC bought a new position in shares of Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. boosted its stake in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in Carrier Global during the 2nd quarter worth $32,000. Register Financial Advisors LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at $34,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Carrier Global in the 2nd quarter valued at $35,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Oppenheimer upped their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective on the stock. Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird reduced their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $81.75.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’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 transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Stock Up 1.4 %

CARR stock opened at $73.72 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market capitalization of $66.42 billion, a P/E ratio of 51.22, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The business has a 50-day moving average of $76.33 and a 200-day moving average of $67.76.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.61 billion. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders 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 yield of 1.03%. Carrier Global’s payout ratio is currently 53.15%.

Carrier Global declared that its board has authorized a stock buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.