Carrier Global Corporation (NYSE:CARR) Stake Increased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC increased its stake in Carrier Global Corporation (NYSE:CARR) by 10.5% in the first quarter, Holdings Channel reports. The institutional investor owned 6,619 shares of the company’s stock after acquiring an additional 631 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Carrier Global were worth $420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CARR. Ritter Daniher Financial Advisory LLC DE increased its stake in Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Carrier Global during the fourth quarter valued at $28,000. Investment Research & Advisory Group Inc. bought a new stake in Carrier Global during the first quarter valued at $29,000. Mattson Financial Services LLC bought a new stake in Carrier Global during the fourth quarter valued at $31,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Carrier Global during the fourth quarter valued at $35,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $66.90 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The company has a 50-day simple moving average of $73.35 and a 200 day simple moving average of $68.33. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company has a market capitalization of $56.93 billion, a P/E ratio of 14.58, a PEG ratio of 1.88 and a beta of 1.26.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The firm had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.08 billion. Sell-side analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, July 21st. Carrier Global’s payout ratio is presently 19.61%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CARR shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $79.00 target price on shares of Carrier Global in a research note on Tuesday, July 15th. Citigroup reissued a “buy” rating and set a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Royal Bank Of Canada reduced their price target on shares of Carrier Global from $89.00 to $87.00 and set an “outperform” rating for the company in a report on Wednesday. Melius Research raised shares of Carrier Global to a “hold” rating and set a $90.00 price target for the company in a report on Tuesday, July 1st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $84.47.

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the sale, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.20% of the company’s stock.

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.