Carrier Global (CARR) Declares $0.18 Dividend
Carrier Global said on June 8, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.74 annualized). Previously, the company paid $0.18 per share.
Shares must be purchased before the ex-div date of June 22, 2023 to qualify for the dividend. Shareholders of record as of June 23, 2023 will receive the payment on August 10, 2023.
At the current share price of $45.30 / share, the stock's dividend yield is 1.63%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.51%, the lowest has been 0.79%, and the highest has been 6.41%. The standard deviation of yields is 0.93 (n=151).
The current dividend yield is 0.13 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.24. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 1997 funds or institutions reporting positions in Carrier Global. This is an increase of 80 owner(s) or 4.17% in the last quarter. Average portfolio weight of all funds dedicated to CARR is 0.24%, an increase of 4.32%. Total shares owned by institutions decreased in the last three months by 0.04% to 928,942K shares. 
The put/call ratio of CARR is 0.58, indicating a bullish outlook.
Analyst Price Forecast Suggests 8.91% Upside
As of June 2, 2023, the average one-year price target for Carrier Global is 49.34. The forecasts range from a low of 45.45 to a high of $56.70. The average price target represents an increase of 8.91% from its latest reported closing price of 45.30.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Carrier Global is 22,109MM, an increase of 5.08%. The projected annual non-GAAP EPS is 2.58.
What are Other Shareholders Doing?
Capital Research Global Investors holds 77,076K shares representing 9.23% ownership of the company. In it's prior filing, the firm reported owning 78,168K shares, representing a decrease of 1.42%. The firm increased its portfolio allocation in CARR by 3.27% over the last quarter.
Capital World Investors holds 72,760K shares representing 8.72% ownership of the company. In it's prior filing, the firm reported owning 80,989K shares, representing a decrease of 11.31%. The firm decreased its portfolio allocation in CARR by 3.39% over the last quarter.
Capital International Investors holds 56,607K shares representing 6.78% ownership of the company. In it's prior filing, the firm reported owning 56,607K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in CARR by 6.28% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 48,131K shares representing 5.77% ownership of the company. In it's prior filing, the firm reported owning 53,456K shares, representing a decrease of 11.06%. The firm decreased its portfolio allocation in CARR by 7.33% over the last quarter.
AIVSX - INVESTMENT CO OF AMERICA holds 28,875K shares representing 3.46% ownership of the company. No change in the last quarter.
Carrier Global Background Information
(This description is provided by the company.)
Founded by the inventor of modern air conditioning, Carrier is a world leader in high-technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy-efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. Carrier is a part of Carrier Global Corporation, the leading global provider of healthy, safe and sustainable building and cold chain solutions.
Key filings for this company:
This story originally appeared on Fintel.