Carrier Global (CARR)

• Market cap: $62.5B
• 1 day: -0.11%
• 5 days: 6.21%
• 1 month: -0.88%
• 3 months: -14.46%
• 6 months: 3.08%
• Year to date: 1.95%
• 1 year: 26.52%
• 5 years: 480.50%
• 10 years: 480.50%
• Sector: Industrials
• Industry: Air-Conditioning & Warm Air Heating Equipment & Commercial & Industrial Refrigeration Equipment

About: Carrier Global manufactures heating, ventilation, and air conditioning, refrigeration, and fire and security products. The HVAC business serves both residential and commercial markets (HVAC segment sales mix is 60% commercial and 40% residential). Carrier's refrigeration segment consists of its transportation refrigeration, Sensitech supply chain monitoring, and commercial refrigeration businesses. The firm's fire and security business manufactures fire detection and suppression, access controls, and intrusion detection products. In April 2023, Carrier announced that it plans to divest its fire and security and commercial refrigeration businesses. The firm also acquired Germany-based Viessmann for approximately $13 billion.

Employees: 53,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

143% more first-time investments, than exits

New positions opened: 194 | Existing positions closed: 80

80% more funds holding in top 10

Funds holding in top 10: 10 [Q2] → 18 (+8) [Q3]

23% more capital invested

Capital invested by funds: $50.7B [Q2] → $62.4B (+$11.7B) [Q3]

7% more funds holding

Funds holding: 1,424 [Q2] → 1,517 (+93) [Q3]

3% more call options, than puts

Call options by funds: $725M | Put options by funds: $704M

5% less repeat investments, than reductions

Existing positions increased: 501 | Existing positions reduced: 527

3.03% less ownership

Funds ownership: 88.43% [Q2] → 85.4% (-3.03%) [Q3]

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $75 8% upside
• Avg. target: $85 22% upside
• High target: $94 35% upside

9 analyst ratings

• positive: 6 67%
• neutral: 3 33%
• negative: 0 0%

JP Morgan Stephen Tusa 73% 1-year accuracy 22 / 30 met price target	11% upside $77	Neutral Maintained	15 Jan 2025
Citigroup Andrew Kaplowitz 66% 1-year accuracy 53 / 80 met price target	29% upside $90	Buy Maintained	13 Jan 2025
Barclays Julian Mitchell 63% 1-year accuracy 70 / 111 met price target	29% upside $90	Overweight Maintained	8 Jan 2025
Wells Fargo Joe O'Dea 80% 1-year accuracy 12 / 15 met price target	8% upside $75	Equal-Weight Maintained	7 Jan 2025
RBC Capital Matthew Swanson 45% 1-year accuracy 17 / 38 met price target	23% upside $86	Outperform Maintained	3 Jan 2025