Carrier Global Co. (NYSE:CARR) Announces $0.23 Quarterly Dividend

Carrier Global Co. (NYSE:CARR) announced a quarterly dividend on Wednesday, April 9th, RTT News reports. Stockholders of record on Friday, May 2nd will be given a dividend of 0.225 per share on Thursday, May 22nd. This represents a $0.90 annualized dividend and a dividend yield of 1.48%.

Carrier Global has raised its dividend payment by an average of 16.0% per year over the last three years. Carrier Global has a payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carrier Global to earn $3.36 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 26.8%.

Carrier Global Stock Performance

Carrier Global stock opened at $60.81 on Thursday. The company’s 50-day moving average is $64.44 and its 200 day moving average is $70.60. 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 capitalization of $52.54 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global has a 1-year low of $53.33 and a 1-year high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period last year, the business posted $0.53 earnings per share. Research analysts forecast that Carrier Global will post 2.99 EPS for the current year.

Analyst Ratings Changes

CARR has been the subject of several research reports. Wells Fargo & Company dropped their target price on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Barclays reduced their price objective on Carrier Global from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a research note on Friday, February 14th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Finally, Citigroup reduced their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.33.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Carrier Global stock. Brighton Jones LLC raised its stake in Carrier Global Co. (NYSE:CARR) by 30.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,958 shares of the company’s stock after acquiring an additional 1,850 shares during the quarter. Brighton Jones LLC’s holdings in Carrier Global were worth $543,000 as of its most recent filing with the Securities and Exchange Commission. 91.00% of the stock is currently owned by institutional investors.

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.