Carrier Global Co. (NYSE:CARR) to Issue Dividend Increase - $0.23 Per Share

Carrier Global Co. (NYSE:CARR - Get Free Report) declared a quarterly dividend on Friday, December 6th,RTT News reports. Investors of record on Friday, December 20th will be given a dividend of 0.225 per share on Friday, February 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.22%. This is an increase from Carrier Global's previous quarterly dividend of $0.19.

Carrier Global has raised its dividend by an average of 38.6% per year over the last three years. Carrier Global has a payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carrier Global to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 25.4%.

Carrier Global Trading Down 0.4 %

NYSE:CARR traded down $0.32 during mid-day trading on Friday, hitting $73.67. 3,842,930 shares of the company's stock were exchanged, compared to its average volume of 4,202,826. Carrier Global has a fifty-two week low of $52.54 and a fifty-two week high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $66.10 billion, a P/E ratio of 18.65, a PEG ratio of 2.80 and a beta of 1.33. The company has a 50 day simple moving average of $77.35 and a 200-day simple moving average of $70.95.

Analyst Ratings Changes

CARR has been the subject of several recent analyst reports. Wolfe Research upgraded Carrier Global from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Stephens lowered their price objective on shares of Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Morgan Stanley started coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an "equal weight" rating and a $75.00 price target on the stock. Finally, Mizuho increased their price target on Carrier Global from $65.00 to $78.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Carrier Global presently has an average rating of "Moderate Buy" and a consensus target price of $82.54.

Carrier Global declared that its Board of Directors has authorized a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

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.

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