Carrier Global Co. (NYSE:CARR) Plans $0.19 Quarterly Dividend

Carrier Global Co. (NYSE:CARR) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Friday, May 3rd will be given a dividend of 0.19 per share on Wednesday, May 22nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, May 2nd.

Carrier Global has a dividend payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Carrier Global to earn $3.08 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 24.7%.

Carrier Global Stock Performance

Shares of CARR opened at $62.77 on Tuesday. The firm has a market cap of $56.56 billion, a P/E ratio of 43.90, a PEG ratio of 2.53 and a beta of 1.39. Carrier Global has a twelve month low of $40.28 and a twelve month high of $62.88. 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 moving average price is $56.72 and its two-hundred day moving average price is $54.88.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The company had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. On average, analysts forecast that Carrier Global will post 2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CARR shares. Barclays upped their target price on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup upped their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. TD Cowen raised their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer upped their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.62.

Insider Activity

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

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.