Carrier Global Co. Announces Quarterly Dividend of $0.23 (NYSE:CARR)

Carrier Global Co. (NYSE:CARR - Get Free Report) declared a quarterly dividend on Thursday, June 12th, RTT News reports. Shareholders of record on Monday, July 21st will be given a dividend of 0.225 per share on Friday, August 8th. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Monday, July 21st.

Carrier Global has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Carrier Global to earn $3.36 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 26.8%.

Carrier Global Stock Down 1.8%

CARR traded down $1.31 during trading on Friday, reaching $71.17. The stock had a trading volume of 3,559,102 shares, compared to its average volume of 4,686,354. The stock's 50 day moving average is $67.25 and its two-hundred day moving average is $67.58. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $61.01 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 2.01 and a beta of 1.33. Carrier Global has a one year low of $54.22 and a one year high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. As a group, analysts expect that Carrier Global will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CARR. Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target for the company in a report on Monday, February 24th. JPMorgan Chase & Co. raised their price target on Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Citigroup reduced their price target on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 14th. Mizuho set a $72.00 price target on Carrier Global in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company raised their price target on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Insiders Place Their Bets

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director now directly owns 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Carrier Global stock. Brighton Jones LLC boosted its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 30.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,958 shares of the company's stock after purchasing an additional 1,850 shares during the quarter. Brighton Jones LLC's holdings in Carrier Global were worth $543,000 at the end of the most recent quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.