Foundations Investment Advisors LLC Boosts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Foundations Investment Advisors LLC increased its position in shares of Carrier Global Co. (NYSE:CARR) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,988 shares of the company’s stock after buying an additional 209 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Carrier Global were worth $409,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global during the 3rd quarter worth about $28,000. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co purchased a new position in Carrier Global during the third quarter worth approximately $37,000. Country Trust Bank acquired a new stake in Carrier Global in the third quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 1.7 %

Shares of CARR opened at $65.90 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm 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 12-month low of $53.13 and a 12-month high of $83.32. The firm has a market capitalization of $59.12 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.26 and a beta of 1.36.

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 issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CARR shares. Barclays dropped their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Citigroup cut their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Mizuho lifted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. reduced their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

About Carrier Global

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.