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

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 increased 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% indicating that its dividend is sufficiently covered by earnings. 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 Up 9.5 %

Carrier Global stock traded up $5.26 during midday trading on Wednesday, hitting $60.81. 8,771,069 shares of the stock were exchanged, compared to its average volume of 4,474,881. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $52.54 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global has a 52-week low of $53.33 and a 52-week high of $83.32. The business’s 50-day moving average price is $64.63 and its 200-day moving average price is $70.81.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Monday, February 24th. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a research report on Friday, February 14th. The Goldman Sachs Group initiated coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Carrier Global from $78.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Citigroup cut their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Five 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 data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Hedge Funds Weigh In On Carrier Global

An institutional investor recently raised its position in Carrier Global stock. Brighton Jones LLC boosted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 30.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,958 shares of the company’s stock after acquiring an additional 1,850 shares during the period. Brighton Jones LLC’s holdings in Carrier Global were worth $543,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 91.00% 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.