Carrier Global Corporation (CARR) To Go Ex-Dividend on October 29th

Carrier Global Corporation (NYSE:CARR) announced a quarterly dividend on Wednesday, October 7th. Shareholders of record on Thursday, October 29th will be given a dividend of $0.24 per share on Wednesday, November 18th. This represents a $0.96 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 29th.

Carrier Global has raised 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 dividend payout ratio of 27.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Carrier Global to earn $3.28 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 29.3%.

Carrier Global Stock Up 0.3%

Shares of NYSE:CARR opened at $56.39 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. Carrier Global has a 52-week low of $50.24 and a 52-week high of $76.76. The firm has a market capitalization of $46.48 billion, a P/E ratio of 39.16, a P/E/G ratio of 1.92 and a beta of 1.29. The stock has a 50 day moving average price of $56.95 and a 200-day moving average price of $61.67.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Carrier Global will post 2.87 EPS for the current fiscal year.

Analyst Ratings Changes

CARR has been the subject of a number of recent research reports. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research report on Friday, October 9th. They set a “neutral” rating and a $61.00 price target for the company. Wolfe Research reaffirmed an “outperform” rating and set a $80.00 target price on shares of Carrier Global in a research note on Thursday, July 9th. Zacks Research lowered shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Carrier Global in a research report on Friday, October 16th. Finally, Citigroup upped their price target on Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.43.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.