MFG Wealth Management Inc. Makes New $3.27 Million Investment in Carrier Global Co. (NYSE:CARR)

MFG Wealth Management Inc. bought a new position in Carrier Global Co. (NYSE:CARR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 47,966 shares of the company’s stock, valued at approximately $3,274,000. Carrier Global makes up 3.0% of MFG Wealth Management Inc.’s portfolio, making the stock its 7th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in Carrier Global by 69.6% in the third quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock valued at $96,000 after purchasing an additional 487 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of Carrier Global in the third quarter valued at $201,000. Procyon Advisors LLC raised its stake in shares of Carrier Global by 13.8% in the third quarter. Procyon Advisors LLC now owns 5,730 shares of the company’s stock valued at $461,000 after buying an additional 697 shares during the period. Wesbanco Bank Inc. grew its stake in shares of Carrier Global by 3.3% during the 3rd quarter. Wesbanco Bank Inc. now owns 47,529 shares of the company’s stock worth $3,826,000 after acquiring an additional 1,498 shares during the period. Finally, Creative Planning increased its holdings in Carrier Global by 2.6% in the 3rd quarter. Creative Planning now owns 465,226 shares of the company’s stock worth $37,446,000 after acquiring an additional 11,655 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CARR. Wells Fargo & Company lowered their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Barclays reduced their price objective on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday. Northcoast Research initiated coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Bank of America lifted their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $82.64.

Carrier Global Stock Performance

Shares of CARR opened at $63.60 on Thursday. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. 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 company has a market cap of $57.06 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The stock has a 50-day moving average price of $68.78 and a 200-day moving average price of $72.40.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period in the previous year, the firm earned $0.53 EPS. As a group, equities analysts forecast that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire 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 shares are undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

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.