Carrier Global Corporation (NYSE:CARR) to Issue Quarterly Dividend of $0.24

Carrier Global Corporation (NYSE:CARR) declared a quarterly dividend on Thursday, June 4th. Stockholders of record on Tuesday, July 21st will be paid a dividend of 0.24 per share on Monday, August 10th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, July 21st.

Carrier Global has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Carrier Global has a payout ratio of 27.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carrier Global to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 30.7%.

Carrier Global Stock Up 1.5%

Shares of NYSE CARR opened at $68.59 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.75. Carrier Global has a one year low of $50.24 and a one year high of $81.09. The stock has a market capitalization of $56.97 billion, a PE ratio of 45.12, a P/E/G ratio of 2.71 and a beta of 1.34. The business’s fifty day moving average price is $62.15 and its 200-day moving average price is $58.97.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Carrier Global had a return on equity of 14.81% and a net margin of 5.99%.The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, equities research analysts anticipate that Carrier Global will post 2.78 EPS for the current year.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in Carrier Global by 5.2% in the 1st quarter. Parallel Advisors LLC now owns 15,363 shares of the company’s stock worth $865,000 after acquiring an additional 763 shares during the last quarter. Summitry LLC increased its stake in Carrier Global by 43.3% in the 1st quarter. Summitry LLC now owns 1,419,812 shares of the company’s stock worth $79,950,000 after acquiring an additional 429,060 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new position in Carrier Global in the 1st quarter worth about $349,000. Arete Wealth Advisors LLC increased its stake in Carrier Global by 2.1% in the 1st quarter. Arete Wealth Advisors LLC now owns 42,021 shares of the company’s stock worth $2,366,000 after acquiring an additional 869 shares during the last quarter. Finally, FinArc Investments Inc. bought a new position in Carrier Global in the 1st quarter worth about $2,129,000. 91.00% of the stock is currently owned by institutional investors.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.