Salem Investment Counselors Inc. Sells 3,605 Shares of Carrier Global Co. (NYSE:CARR)

Salem Investment Counselors Inc. trimmed its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. raised its holdings in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after acquiring an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its position in shares of Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock worth $26,000 after buying an additional 180 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Carrier Global during the 4th quarter worth approximately $31,000. Finally, Mattson Financial Services LLC acquired a new position in Carrier Global during the 4th quarter valued at about $31,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CARR shares. Wells Fargo & Company raised their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. raised their price target on shares of Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Mizuho set a $72.00 price objective on shares of Carrier Global in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Carrier Global Stock Performance

CARR traded down $1.31 during trading hours on Friday, hitting $71.17. The company's stock had a trading volume of 3,559,102 shares, compared to its average volume of 4,686,362. 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 50-day simple moving average of $67.57 and a 200 day simple moving average of $67.54. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $61.01 billion, a PE ratio of 11.33, a PEG ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. Carrier Global's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. As a group, sell-side analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared 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. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's dividend payout ratio is 13.93%.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by corporate insiders.

Carrier Global Company 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.