Mizuho Securities USA LLC Decreases Holdings in Carrier Global Corporation (NYSE:CARR)

Key Points

• Mizuho Securities USA LLC reduced its stake in Carrier Global by 18.2%, holding 64,661 shares valued at $4.10 million after selling 14,423 shares in the first quarter.
• Carrier Global's stock has a market cap of $56.21 billion and recently reported earnings per share of $0.92, beating analysts' expectations.
• The company declared a quarterly dividend of $0.225 per share, providing an annualized yield of 1.4% with a payout ratio of 19.61%.

Mizuho Securities USA LLC cut its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 18.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,661 shares of the company's stock after selling 14,423 shares during the quarter. Mizuho Securities USA LLC's holdings in Carrier Global were worth $4,100,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after acquiring an additional 474 shares during the last quarter. Bessemer Group Inc. grew its holdings in Carrier Global by 15.7% during the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock worth $1,823,000 after acquiring an additional 3,900 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Carrier Global by 27.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after acquiring an additional 285,803 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Carrier Global during the 1st quarter worth approximately $234,000. Finally, Ritholtz Wealth Management grew its holdings in Carrier Global by 34.0% during the 1st quarter. Ritholtz Wealth Management now owns 3,968 shares of the company's stock worth $252,000 after acquiring an additional 1,007 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Up 0.4%

Shares of Carrier Global stock traded up $0.24 during trading hours on Wednesday, reaching $65.97. The company's stock had a trading volume of 308,594 shares, compared to its average volume of 5,274,080. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The company has a market capitalization of $56.14 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.78 and a beta of 1.25. The stock's fifty day simple moving average is $72.63 and its two-hundred day simple moving average is $68.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business had revenue of $6.11 billion for the quarter, compared to analysts' expectations of $6.08 billion. On average, research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were paid a $0.225 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.4%. Carrier Global's dividend payout ratio (DPR) is 19.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Melius started coverage on shares of Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a research note on Tuesday, July 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Citigroup reaffirmed a "buy" rating and issued a $89.00 price objective (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Finally, Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 price objective on the stock in a research note on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and a consensus price target of $84.47.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the sale, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 7.20% of the company's stock.

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.