Mizuho Securities USA LLC Buys 922,892 Shares of Carrier Global Co. (NYSE:CARR)

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

A number of other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares in the last quarter. Capital International Investors raised its position in shares of Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the period. PineStone Asset Management Inc. lifted its holdings in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Carrier Global in the 2nd quarter valued at approximately $58,415,000. Finally, International Assets Investment Management LLC increased its stake in Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stephens cut their price target on shares of 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. Mizuho boosted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird lowered their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Oppenheimer lifted their price target on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. started coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.31.

Carrier Global Price Performance

NYSE:CARR opened at $74.53 on Friday. 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 Co. has a 12-month low of $51.20 and a 12-month high of $83.32. The stock’s 50 day moving average price is $77.73 and its two-hundred day moving average price is $69.78. The firm has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 2.74 and a beta of 1.34.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. Carrier Global’s dividend payout ratio (DPR) is 19.24%.

Carrier Global announced that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Carrier Global 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.