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

MFG Wealth Management Inc. purchased a new stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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 portfolio, making the stock its 7th largest position.

Several other large investors have also recently modified their holdings of the business. FSA Wealth Management LLC bought a new position in Carrier Global during the third quarter worth $28,000. McClarren Financial Advisors Inc. raised its stake in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock worth $35,000 after buying an additional 310 shares during the last quarter. Coastline Trust Co bought a new position in Carrier Global during the third quarter worth $37,000. Capital Performance Advisors LLP bought a new position in Carrier Global during the third quarter worth $44,000. Finally, Ashton Thomas Securities LLC bought a new position in Carrier Global during the third quarter worth $50,000. Institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Carrier Global from $83.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. UBS Group upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Wednesday. Citigroup reduced their price target on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, Mizuho upgraded shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price target for the company in a report on Friday. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.64.

Carrier Global Stock Up 2.4 %

Carrier Global stock traded up $1.52 during midday trading on Friday, hitting $65.19. 6,750,573 shares of the stock were exchanged, compared to its average volume of 5,689,759. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The stock has a market capitalization of $58.49 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The business's 50-day moving average price is $68.17 and its 200-day moving average price is $72.30. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, research analysts expect that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a $0.225 dividend. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.38%. Carrier Global's payout ratio is currently 22.78%.

Carrier Global announced that its Board of Directors has approved a stock repurchase program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.