Raub Brock Capital Management LP Sells 24,269 Shares of Carrier Global Co. (NYSE:CARR)

Raub Brock Capital Management LP decreased its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 262,124 shares of the company's stock after selling 24,269 shares during the period. Carrier Global accounts for about 3.8% of Raub Brock Capital Management LP's investment portfolio, making the stock its 15th largest position. Raub Brock Capital Management LP's holdings in Carrier Global were worth $17,893,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. HB Wealth Management LLC lifted its position in shares of Carrier Global by 1.2% in the fourth quarter. HB Wealth Management LLC now owns 32,000 shares of the company's stock valued at $2,184,000 after acquiring an additional 371 shares in the last quarter. Trust Co. of Vermont raised its stake in Carrier Global by 0.4% during the 4th quarter. Trust Co. of Vermont now owns 38,929 shares of the company's stock valued at $2,657,000 after purchasing an additional 163 shares during the period. InTrack Investment Management Inc lifted its holdings in Carrier Global by 132.1% in the 4th quarter. InTrack Investment Management Inc now owns 19,893 shares of the company's stock worth $1,361,000 after purchasing an additional 11,323 shares in the last quarter. Brooklyn Investment Group boosted its stake in Carrier Global by 16.3% in the 4th quarter. Brooklyn Investment Group now owns 3,611 shares of the company's stock worth $246,000 after purchasing an additional 505 shares during the period. Finally, Professional Advisory Services Inc. grew its holdings in Carrier Global by 4.1% during the 4th quarter. Professional Advisory Services Inc. now owns 295,627 shares of the company's stock valued at $20,179,000 after buying an additional 11,585 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CARR. Oppenheimer upped their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Wells Fargo & Company dropped their price objective on shares of Carrier Global from $80.00 to $75.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, UBS Group raised Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price objective on the stock in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $83.93.

Carrier Global Price Performance

Shares of CARR remained flat at $69.74 during midday trading on Friday. 4,601,408 shares of the stock traded hands, compared to its average volume of 4,039,499. The company's 50-day moving average is $71.96 and its 200 day moving average is $72.25. The stock has a market capitalization of $62.57 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32.

Carrier Global Increases Dividend

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

Carrier Global announced that its Board of Directors has initiated a share buyback 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 a sign that the company's board believes its shares are undervalued.

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.