Carrier Global Co. (CARR) To Go Ex-Dividend on December 20th

Carrier Global Co. (NYSE:CARR) announced a quarterly dividend on Friday, December 6th,RTT News reports. Investors of record on Friday, December 20th will be given a dividend of 0.225 per share on Friday, February 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19.

Carrier Global has increased its dividend payment by an average of 38.6% per year over the last three years. Carrier Global has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Carrier Global to earn $2.99 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 30.1%.

Carrier Global Trading Down 1.8 %

Shares of Carrier Global stock opened at $70.28 on Wednesday. The stock has a market cap of $63.06 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.73 and a beta of 1.33. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global has a 12-month low of $53.13 and a 12-month high of $83.32. The business’s 50 day moving average is $76.13 and its 200-day moving average is $71.49.

Carrier Global announced that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

CARR has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Bank of America raised their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Northcoast Research started coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Mizuho raised their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Oppenheimer lifted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $83.50.

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.