Daiwa Securities Group Inc. Has $8.08 Million Holdings in Carrier Global Co. (NYSE:CARR)

Daiwa Securities Group Inc. increased its position in Carrier Global Co. (NYSE:CARR) by 12.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,440 shares of the company’s stock after acquiring an additional 11,032 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Carrier Global were worth $8,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARR. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter worth $25,000. Meeder Asset Management Inc. boosted its holdings in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC acquired a new stake in Carrier Global in the 2nd quarter worth $32,000. Hantz Financial Services Inc. bought a new position in shares of Carrier Global during the 2nd quarter worth about $35,000. Finally, McClarren Financial Advisors Inc. lifted its stake in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CARR. Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company reduced their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Stephens lowered 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 report on Monday, October 28th. Finally, Barclays reduced their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $78.86 on Tuesday. Carrier Global Co. has a 1-year low of $51.20 and a 1-year high of $83.32. The firm’s 50-day moving average price is $77.92 and its two-hundred day moving average price is $70.41. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $70.76 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 2.77 and a beta of 1.34.

Carrier Global announced that its Board of Directors has approved a stock repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, October 25th were given a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.96%. Carrier Global’s payout ratio is 19.24%.

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.