Carrier Global Co. (NYSE:CARR) Shares Sold by Raub Brock Capital Management LP

Raub Brock Capital Management LP trimmed its position in Carrier Global Co. (NYSE:CARR) by 8.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 262,124 shares of the company’s stock after selling 24,269 shares during the period. Carrier Global accounts for approximately 3.8% of Raub Brock Capital Management LP’s holdings, making the stock its 15th largest position. Raub Brock Capital Management LP’s holdings in Carrier Global were worth $17,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its holdings in Carrier Global by 57.7% in the second quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock valued at $5,946,000 after purchasing an additional 34,487 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Carrier Global by 8.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 89,024 shares of the company’s stock worth $5,618,000 after buying an additional 7,015 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Carrier Global by 2.8% during the 2nd quarter. Blair William & Co. IL now owns 153,893 shares of the company’s stock worth $9,708,000 after buying an additional 4,135 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Carrier Global by 27.9% in the 2nd quarter. XTX Topco Ltd now owns 21,754 shares of the company’s stock valued at $1,372,000 after buying an additional 4,747 shares in the last quarter. Finally, Brighton Jones LLC grew its position in shares of Carrier Global by 10.4% in the 2nd quarter. Brighton Jones LLC now owns 5,790 shares of the company’s stock valued at $365,000 after buying an additional 544 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

CARR stock opened at $69.74 on Friday. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a fifty day moving average of $71.96 and a 200-day moving average of $72.18. The stock has a market capitalization of $62.57 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 22.78%.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on CARR shares. Royal Bank of Canada decreased their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Citigroup cut their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company decreased their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.