Carrier Global Co. (CARR) to Issue Quarterly Dividend of $0.19 on May 22nd

Carrier Global Co. (NYSE:CARR) declared a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Shareholders of record on Friday, May 3rd will be paid 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 of this dividend is Thursday, May 2nd.

Carrier Global has a payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of CARR stock opened at $62.77 on Tuesday. 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 has a market cap of $56.56 billion, a P/E ratio of 43.90, a P/E/G ratio of 2.53 and a beta of 1.39. The business’s 50 day moving average price is $56.72 and its 200-day moving average price is $54.88. Carrier Global has a fifty-two week low of $40.28 and a fifty-two week high of $62.88.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, equities research analysts anticipate that Carrier Global will post 2.84 earnings per share for the current year.

Insider Transactions at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated 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 completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction on Thursday, February 8th. The stock was 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 of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global 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 completion of the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

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

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.