Carrier Global (CARR)

• Market cap: $61.5B
• 1 day: 2.70%
• 5 days: -6.43%
• 1 month: -8.07%
• 3 months: -14.30%
• 6 months: 6.65%
• Year to date: 21.33%
• 1 year: 22.30%
• 5 years: 470.75%
• 10 years: 470.75%
• 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)

91% more first-time investments, than exits

New positions opened: 193 | Existing positions closed: 101

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: $48.7B [Q2] → $60.1B (+$11.4B) [Q3]

6% more funds holding

Funds holding: 1,424 [Q2] → 1,516 (+92) [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

2.81% less ownership

Funds ownership: 85.02% [Q2] → 82.2% (-2.81%) [Q3]

Research analyst outlook

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

• Low target: $76 11% upside
• Avg. target: $85 25% upside
• High target: $94 37% upside

10 analyst ratings

• positive: 5 50%
• neutral: 5 50%
• negative: 0 0%

Barclays Julian Mitchell 61% 1-year accuracy 62 / 101 met price target	34% upside $92	Overweight Maintained	5 Dec 2024
UBS Amit Mehrotra 20% 1-year accuracy 2 / 10 met price target	37% upside $94	Buy Upgraded	13 Nov 2024
Stephens & Co. Tommy Moll 89% 1-year accuracy 17 / 19 met price target	17% upside $80	Equal-Weight Maintained	28 Oct 2024
RBC Capital Deane Dray 54% 1-year accuracy 35 / 65 met price target	27% upside $87	Outperform Maintained	25 Oct 2024
Wells Fargo Joe O'Dea 85% 1-year accuracy 11 / 13 met price target	11% upside $76	Equal-Weight Maintained	25 Oct 2024