MFG Wealth Management Inc. Acquires New Holdings in Carrier Global Co. (NYSE:CARR)

MFG Wealth Management Inc. bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 47,966 shares of the company’s stock, valued at approximately $3,274,000. Carrier Global comprises about 3.0% of MFG Wealth Management Inc.’s holdings, making the stock its 7th biggest position.

Several other institutional investors also recently modified their holdings of the stock. RFG Advisory LLC raised its holdings in Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in shares of Carrier Global by 1,156.1% during the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after acquiring an additional 19,018 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Carrier Global by 39.0% during the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after purchasing an additional 38,365 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Carrier Global by 12.3% in the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after purchasing an additional 11,032 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in Carrier Global in the fourth quarter valued at $2,213,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group started coverage on Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays decreased their target price on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, November 13th. Finally, Stephens decreased their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Stock Down 2.4 %

CARR stock opened at $63.60 on Thursday. The stock’s 50 day simple moving average is $68.78 and its 200 day simple moving average is $72.40. The company has a market cap of $57.06 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping 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 quarter last year, the business earned $0.53 EPS. On average, research analysts expect that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued 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 currently 22.78%.

Carrier Global declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board 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.