Carrier Global Co. (CARR) To Go Ex-Dividend on May 2nd

Carrier Global Co. (NYSE:CARR) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders 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 dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, May 2nd.

Carrier Global has increased its dividend by an average of 49.5% annually 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 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 Stock Performance

Carrier Global stock opened at $53.55 on Friday. Carrier Global has a 1-year low of $40.28 and a 1-year high of $60.87. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $48.20 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 2.25 and a beta of 1.39. The firm’s 50 day simple moving average is $56.36 and its 200 day simple moving average is $54.74.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 6th. The company reported $0.53 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 business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. As a group, analysts expect that Carrier Global will post 2.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CARR shares. Barclays raised their target price on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Oppenheimer reissued an “outperform” rating and issued a $63.00 target price on shares of Carrier Global in a research note on Thursday. 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 cut their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.15.

Insider Activity at Carrier Global

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Covestor Ltd grew its position in shares of Carrier Global by 121.2% in the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after buying an additional 303 shares during the last quarter. Cornerstone Planning Group LLC purchased a new stake in Carrier Global in the second quarter worth $38,000. Fortis Capital Advisors LLC bought a new stake in Carrier Global in the first quarter valued at $48,000. PCA Investment Advisory Services Inc. purchased a new position in Carrier Global during the 2nd quarter valued at $50,000. Finally, Coppell Advisory Solutions LLC bought a new position in Carrier Global in the 2nd quarter worth $59,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.