Salem Investment Counselors Inc. Has $1.23 Million Stake in Carrier Global Co. (NYSE:CARR)

Salem Investment Counselors Inc. trimmed its stake in Carrier Global Co. (NYSE:CARR) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,132 shares of the company’s stock after selling 470 shares during the period. Salem Investment Counselors Inc.’s holdings in Carrier Global were worth $1,228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CARR. International Assets Investment Management LLC grew its holdings in Carrier Global by 6.8% during the 1st quarter. International Assets Investment Management LLC now owns 10,309 shares of the company’s stock worth $592,000 after acquiring an additional 659 shares during the period. MJP Associates Inc. ADV grew its holdings in Carrier Global by 4.2% during the 1st quarter. MJP Associates Inc. ADV now owns 7,046 shares of the company’s stock worth $410,000 after acquiring an additional 287 shares during the period. Clarus Wealth Advisors grew its holdings in Carrier Global by 10.6% during the 1st quarter. Clarus Wealth Advisors now owns 10,878 shares of the company’s stock worth $619,000 after acquiring an additional 1,042 shares during the period. Liberty Capital Management Inc. grew its holdings in Carrier Global by 13.5% during the 1st quarter. Liberty Capital Management Inc. now owns 23,202 shares of the company’s stock worth $1,349,000 after acquiring an additional 2,766 shares during the period. Finally, Gulf International Bank UK Ltd grew its holdings in Carrier Global by 0.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 69,001 shares of the company’s stock worth $4,011,000 after acquiring an additional 440 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE CARR opened at $62.88 on Monday. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $66.50. The stock has a market cap of $56.66 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 2.59 and a beta of 1.33. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The firm’s 50-day simple moving average is $62.25 and its 200 day simple moving average is $58.44.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. As a group, research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be given a dividend of $0.19 per share. The ex-dividend date is Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Carrier Global’s dividend payout ratio is currently 53.15%.

Insiders Place Their Bets

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The disclosure for this sale can be found here. Insiders have sold a total of 262,954 shares of company stock valued at $16,650,050 in the last 90 days. 6.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent analyst reports. Oppenheimer increased their price target on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Wells Fargo & Company increased their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their price target for the stock from $65.00 to $74.00 in a report on Monday. TD Cowen increased their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, Barclays increased their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.64.

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.