MFG Wealth Management Inc. Cuts Stock Holdings in Carrier Global Corporation (NYSE:CARR)

MFG Wealth Management Inc. trimmed its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 32.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,535 shares of the company's stock after selling 15,431 shares during the period. Carrier Global makes up 2.0% of MFG Wealth Management Inc.'s investment portfolio, making the stock its 22nd largest holding. MFG Wealth Management Inc.'s holdings in Carrier Global were worth $2,063,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. lifted its holdings in shares of Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock worth $25,000 after purchasing an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock worth $26,000 after purchasing an additional 180 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Carrier Global in the 4th quarter worth $28,000. Investment Research & Advisory Group Inc. bought a new position in shares of Carrier Global in the 1st quarter worth $29,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of Carrier Global in the 4th quarter worth $31,000. 91.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carrier Global

In other 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 completion of the transaction, the director now owns 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.20% of the company's stock.

Carrier Global Price Performance

CARR stock traded up $1.11 during mid-day trading on Friday, reaching $73.70. 6,162,772 shares of the company traded hands, compared to its average volume of 4,666,376. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. The company has a market capitalization of $63.19 billion, a P/E ratio of 11.41, a P/E/G ratio of 2.07 and a beta of 1.33. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a fifty day moving average price of $69.94 and a 200-day moving average price of $67.19.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The company's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, July 21st. Carrier Global's payout ratio is presently 13.93%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CARR. Royal Bank Of Canada increased their target price on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Robert W. Baird raised their price objective on Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a research note on Friday, May 9th. Finally, Mizuho set a $72.00 price objective on Carrier Global in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

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.