Salem Investment Counselors Inc. Has $1.07 Million Stake in Carrier Global Co. (NYSE:CARR)

Salem Investment Counselors Inc. trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 17.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,885 shares of the company’s stock after selling 3,605 shares during the period. Salem Investment Counselors Inc.’s holdings in Carrier Global were worth $1,071,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CARR. BOK Financial Private Wealth Inc. lifted its position in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after buying an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after buying an additional 180 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at approximately $31,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at approximately $31,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.20% of the company’s stock.

Carrier Global Price Performance

Carrier Global stock opened at $71.17 on Friday. The stock’s fifty day moving average price is $67.57 and its two-hundred day moving average price is $67.54. Carrier Global Co. has a one year low of $54.22 and a one year 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 firm has a market cap of $61.01 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

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

Carrier Global Announces Dividend

The business 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 dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CARR. Barclays raised their price objective on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Royal Bank of Canada lifted their price target on Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Mizuho set a $72.00 price target on Carrier Global in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Finally, Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, February 24th. Four equities research 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

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.