Mizuho Securities USA LLC Has $79.48 Million Holdings in Carrier Global Co. (NYSE:CARR)

Mizuho Securities USA LLC grew its holdings in Carrier Global Co. (NYSE:CARR) by 1,428.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 987,500 shares of the company’s stock after purchasing an additional 922,892 shares during the period. Mizuho Securities USA LLC owned about 0.11% of Carrier Global worth $79,484,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Coastline Trust Co acquired a new position in shares of Carrier Global in the third quarter worth $37,000. KCM Investment Advisors LLC raised its stake in shares of Carrier Global by 1.4% during the 3rd quarter. KCM Investment Advisors LLC now owns 21,363 shares of the company’s stock worth $1,720,000 after purchasing an additional 297 shares in the last quarter. Empirical Finance LLC grew its stake in shares of Carrier Global by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 28,829 shares of the company’s stock valued at $2,320,000 after buying an additional 643 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new position in Carrier Global in the third quarter worth approximately $1,068,000. Finally, Signature Estate & Investment Advisors LLC lifted its stake in Carrier Global by 9.8% in the third quarter. Signature Estate & Investment Advisors LLC now owns 11,581 shares of the company’s stock valued at $932,000 after acquiring an additional 1,037 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 0.6 %

Shares of CARR stock opened at $74.53 on Friday. The company has a market capitalization of $66.87 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.74 and a beta of 1.34. Carrier Global Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $77.73 and a 200 day moving average price of $69.78.

Carrier Global announced that its board has authorized a stock repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is currently 19.24%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Oppenheimer upped their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. assumed coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Barclays dropped their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Stephens lowered their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.31.

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.