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

Carrier Global Co. (NYSE:CARR - Get Free Report) announced a quarterly dividend on Wednesday, April 9th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, May 2nd.

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 26.2% indicating that 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 Trading Up 2.3 %

CARR stock traded up $1.37 during trading on Monday, hitting $60.63. The company had a trading volume of 5,391,514 shares, compared to its average volume of 4,512,474. Carrier Global has a one year low of $53.33 and a one year high of $83.32. 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 business has a 50-day moving average of $64.27 and a 200-day moving average of $70.25. The stock has a market cap of $52.38 billion, a PE ratio of 9.65, a PEG ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned $0.53 earnings per share. Research analysts predict that Carrier Global will post 2.99 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Carrier Global

A hedge fund recently raised its stake in Carrier Global stock. Brighton Jones LLC increased its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 30.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,958 shares of the company's stock after purchasing an additional 1,850 shares during the period. Brighton Jones LLC's holdings in Carrier Global were worth $543,000 as of its most recent SEC filing. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on CARR shares. Citigroup decreased their target price on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research report on Monday. Barclays cut their price target on shares of Carrier Global from $87.00 to $83.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their target price on Carrier Global from $78.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada decreased their price target on shares of Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company lowered their price objective on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Five 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 company. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.13.

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.