Raub Brock Capital Management LP Reduces Stock Holdings in Carrier Global Co. (NYSE:CARR)

Raub Brock Capital Management LP reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,356 shares of the company’s stock after selling 9,768 shares during the period. Carrier Global accounts for 3.6% of Raub Brock Capital Management LP’s portfolio, making the stock its 16th biggest holding. Raub Brock Capital Management LP’s holdings in Carrier Global were worth $15,999,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CARR. Brighton Jones LLC grew its stake in Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after purchasing an additional 1,850 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in Carrier Global by 17.8% during the fourth quarter. Leavell Investment Management Inc. now owns 5,927 shares of the company’s stock worth $406,000 after buying an additional 895 shares in the last quarter. Naples Global Advisors LLC raised its stake in shares of Carrier Global by 8.2% during the 4th quarter. Naples Global Advisors LLC now owns 6,385 shares of the company’s stock worth $437,000 after buying an additional 485 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Carrier Global by 1.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 475,850 shares of the company’s stock worth $32,786,000 after buying an additional 8,746 shares during the period. Finally, Catalyst Financial Partners LLC raised its stake in shares of Carrier Global by 6.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,698 shares of the company’s stock worth $252,000 after buying an additional 210 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CARR. Robert W. Baird upped their price target on Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Wells Fargo & Company upped their price target on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Royal Bank of Canada upped their target price on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Mizuho set a $72.00 price target on Carrier Global in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Carrier Global Price Performance

Shares of NYSE CARR opened at $71.17 on Friday. Carrier Global Co. has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The stock has a market capitalization of $61.01 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 2.01 and a beta of 1.33. The business has a 50-day moving average of $67.57 and a 200-day moving average of $67.54.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be paid a $0.225 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.26%. Carrier Global’s dividend payout ratio (DPR) is 13.93%.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the sale, the director now owns 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 can be accessed through this link. Insiders own 7.20% of the company’s stock.

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.