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

Carrier Global Co. (NYSE:CARR) declared 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 dividend yield of 1.42%. The ex-dividend date is Thursday, May 2nd.

Carrier Global has raised its dividend payment by an average of 49.5% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Carrier Global has a payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carrier Global to earn $3.07 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 24.8%.

Carrier Global Trading Up 0.3 %

Shares of CARR stock opened at $53.55 on Friday. The stock has a fifty day simple moving average of $56.36 and a two-hundred day simple moving average of $54.74. Carrier Global has a 52-week low of $40.28 and a 52-week high of $60.87. The firm has a market capitalization of $48.20 billion, a PE ratio of 33.89, a PEG ratio of 2.25 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. On average, analysts predict that Carrier Global will post 2.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Oppenheimer restated an “outperform” rating and set a $63.00 price objective on shares of Carrier Global in a research report on Thursday. Barclays lifted their target price on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Wells Fargo & Company dropped their price target on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada reduced their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Hold” and a consensus price target of $61.15.

Insider Transactions at Carrier Global

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bragg Financial Advisors Inc boosted its position in Carrier Global by 1.8% in the 4th quarter. Bragg Financial Advisors Inc now owns 12,577 shares of the company’s stock valued at $723,000 after buying an additional 223 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Carrier Global by 10.0% during the second quarter. Parkside Financial Bank & Trust now owns 2,933 shares of the company’s stock worth $146,000 after acquiring an additional 266 shares during the period. Covestor Ltd raised its stake in shares of Carrier Global by 121.2% during the first quarter. Covestor Ltd now owns 553 shares of the company’s stock valued at $25,000 after acquiring an additional 303 shares in the last quarter. SVB Wealth LLC boosted its holdings in shares of Carrier Global by 0.9% in the first quarter. SVB Wealth LLC now owns 36,759 shares of the company’s stock valued at $1,686,000 after purchasing an additional 321 shares during the period. Finally, Harbour Investments Inc. grew its stake in Carrier Global by 8.9% in the first quarter. Harbour Investments Inc. now owns 3,983 shares of the company’s stock worth $182,000 after purchasing an additional 324 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

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.