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

Carrier Global Co. (NYSE:CARR) declared a quarterly dividend on Thursday, October 10th, RTT News reports. Investors of record on Friday, October 25th will be given a dividend of 0.19 per share on Monday, November 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Friday, October 25th.

Carrier Global has increased its dividend payment by an average of 38.6% annually over the last three years. Carrier Global has a payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Carrier Global to earn $3.10 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 24.5%.

Carrier Global Trading Down 1.5 %

Shares of Carrier Global stock opened at $80.16 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The business has a fifty day simple moving average of $75.95 and a two-hundred day simple moving average of $67.64. Carrier Global has a 1 year low of $45.68 and a 1 year high of $83.32. The company has a market capitalization of $72.23 billion, a price-to-earnings ratio of 56.06, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the company posted $0.79 EPS. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts forecast that Carrier Global will post 2.85 EPS for the current year.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank of Canada upped their target price on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Mizuho increased their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Finally, Oppenheimer lifted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

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.