Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers. Its products include air conditioners, heating systems, controls, and aftermarket components, as well as aftermarket repair and maintenance services and building automation solutions. The Refrigeration segment offers transport refrigeration products and services, including refrigeration and monitoring systems for trucks, trailers, shipping containers, intermodal, and rail; and commercial refrigeration solutions, such as refrigerated cabinets, freezers, systems, and controls. The Fire & Security segment provides various residential and building systems, including fire, flame, gas, smoke, and carbon monoxide detection; portable fire extinguishers; fire suppression systems; intruder alarms; access control systems; video management systems; and electronic controls. Its other fire and security service offerings comprise audit, design, installation, and system integration, as well as aftermarket maintenance and repair and monitoring services. The company offers its products under the Autronica, Chubb, Det-Tronics, Edwards, Fireye, GST, Kidde, LenelS2, Marioff, Onity, and Supra; and Carrier, Automated Logic, BluEdge, Bryant, CIAT, Day & Night, Heil, NORESCO, and Riello brands. It sells its products directly to building contractors and owners, transportation companies and retail stores, and end customers, as well as indirectly through equity method investees, independent sales representatives, distributors, wholesalers, dealers, retail outlets, manufacturers' representatives, and value-added resellers. The company was incorporated in 2019 and is headquartered in Palm Beach Gardens, Florida.
IPO Year: 2020
Exchange: NYSE
Website: corporate.carrier.com
Date | Price Target | Rating | Analyst |
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8/16/2024 | $70.00 → $74.00 | Outperform | Oppenheimer |
7/29/2024 | $55.00 → $72.00 | Underperform → Neutral | BofA Securities |
7/15/2024 | $64.00 → $75.00 | Neutral → Outperform | Robert W. Baird |
6/24/2024 | $65.00 → $74.00 | Neutral → Buy | Citigroup |
10/12/2023 | $56.00 | Peer Perform → Underperform | Wolfe Research |
10/6/2023 | $53.00 | Neutral → Underweight | JP Morgan |
10/5/2023 | $62.00 → $55.00 | Neutral → Underperform | BofA Securities |
9/14/2023 | $63.00 → $61.00 | Buy → Neutral | Mizuho |
6/8/2023 | $49.00 → $47.00 | Overweight → Equal-Weight | Morgan Stanley |
3/28/2023 | $51.00 | Outperform | Oppenheimer |
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Net sales of $6.7 billion up 12% versus second quarter 2023; organic sales up 2%GAAP EPS of $2.55 up significantly and adjusted EPS of $0.87 up double-digitsGAAP operating margin expanded significantly year over year; adjusted operating margin expanded 200 bpsReaffirming full year 2024 adjusted EPS guidance rangeClosed two of four business exit transactions; remaining two on-trackExpect to repurchase about $1 billion worth of shares in the second half of 2024PALM BEACH GARDENS, Fla., July 25, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, today reported strong financial results for the second quarter of 2024 and reaffir
PALM BEACH GARDENS, Fla., July 9, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, will release its second quarter 2024 earnings on Thursday, July 25, 2024 and host a conference call and webcast at 7:30 a.m. ET. The webcast and presentation will be available at ir.carrier.com. To listen to the earnings call by phone, participants must pre-register at Carrier Earnings Call Registration. All registrants will receive dial-in information and a PIN allowing access to the live call. A recording will be archived a
PALM BEACH GARDENS, Fla., June 6, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, announced today that its Board of Directors declared a quarterly dividend of $0.19 per outstanding share of Carrier common stock. The dividend will be payable on August 8, 2024 to shareowners of record at the close of business on June 21, 2024. About CarrierCarrier Global Corporation, a global leader in intelligent climate and energy solutions, is committed to creating solutions that matter for people and our planet for gener
$4.95 Billion Acquisition Bolsters Honeywell's Strategic Alignment to the Automation Megatrend, Underpinned by DigitalizationPositions Honeywell as a Leading Provider of Security Solutions in a Digital AgeEnhances Honeywell's Building Automation Segment, Adding an Accretive Growth and Margin BusinessCHARLOTTE, N.C., June 3, 2024 /PRNewswire/ -- Honeywell (NASDAQ:HON) today announced the completion of its acquisition of Carrier Global Corporation's (NYSE:CARR) Global Access Solutions business for $4.95 billion. The deal positions Honeywell as a leading provider of security solutions for the digital age with opportunities for accelerated innovation in the fast-growing, cloud-based services and
Net sales up 17% versus first quarter 2023; organic sales up 2%GAAP EPS of $0.29 and adjusted EPS of $0.62GAAP operating margin down 240 bps year over year; adjusted operating margin expanded 280 bpsMaintaining full year 2024 adjusted EPS guidance range despite additional $0.05 headwind from the earlier timing of business exitsIncreasing full year 2024 adjusted operating margin guidance to ~15.5%Expect to resume share repurchases in 2024PALM BEACH GARDENS, Fla., April 25, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, today reported strong financial results for the first quarter of 2024 and reaffirmed its full year earn
PALM BEACH GARDENS, Fla., April 18, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, announced today that its Board of Directors declared a quarterly dividend of $0.19 per outstanding share of Carrier common stock. The dividend will be payable on May 22, 2024 to shareowners of record at the close of business on May 3, 2024. About CarrierCarrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating solutions that matter for people and our planet for generatio
PALM BEACH GARDENS, Fla., April 4, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, will release its first quarter 2024 earnings on Thursday, April 25, 2024 and host a conference call and webcast at 7:30 a.m. ET. The webcast and presentation will be available at ir.carrier.com. To listen to the earnings call by phone, participants must pre-register at Carrier Earnings Call Registration. All registrants will receive dial-in information and a PIN allowing access to the live call. A recording will be archived
Fourth Quarter 2023 Highlights Sales of $5.1BOperating margin expansion of 340 basis points and adjusted operating margin expansion of 80 basis pointsGAAP EPS of $0.49, up 53% vs. 2022 and adjusted EPS of $0.53, up 33% vs. 2022Net cash flow from operating activities of $1.1B and free cash flow of $829MFull Year 2023 Highlights Sales of $22.1B, up 8% compared to 2022 including 3% organic growthGross margins up 210 basis points compared to 2022GAAP EPS of $1.58 and adjusted EPS of $2.73Net cash flow from operating activities of $2.6B and free cash flow of $2.1B, up 49% and 53% respectivelyOutlook for 2024 Global Access Solutions and Commercial Refrigeration included through June 30, 2024Viessm
PALM BEACH GARDENS, Fla., Jan. 16, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, will release its fourth quarter 2023 earnings on Tuesday, February 6, 2024 and host a conference call and webcast at 7:30 a.m. ET. The webcast and presentation will be available at ir.carrier.com. To listen to the earnings call by phone, participants must pre-register at Carrier Earnings Call Registration. All registrants will receive dial-in information and a PIN allowing access to the live call. A recording will be archive
QINGDAO, China, Dec. 13, 2023 /PRNewswire/ -- Haier Smart Home entered into a stock purchase agreement with Carrier Global Corporation (NYSE:CARR) to acquire Carrier's Commercial Refrigeration Business ("Carrier Commercial Refrigeration") through acquiring 100% of the equity interest in Carolin Holdings B.V. Carrier, for total consideration of approximately USD 640 million (the "Transaction"), which represents 11x 2022A P/E. The Transaction marks Haier Smart Home's expansion from its existing household refrigeration business into the commercial refrigeration business, creating additional future growth opportunities. Carrier Commercial Refrigeration is a leading global commercial refrigerati
Oppenheimer reiterated coverage of Carrier Global with a rating of Outperform and set a new price target of $74.00 from $70.00 previously
BofA Securities upgraded Carrier Global from Underperform to Neutral and set a new price target of $72.00 from $55.00 previously
Robert W. Baird upgraded Carrier Global from Neutral to Outperform and set a new price target of $75.00 from $64.00 previously
Citigroup upgraded Carrier Global from Neutral to Buy and set a new price target of $74.00 from $65.00 previously
Wolfe Research downgraded Carrier Global from Peer Perform to Underperform and set a new price target of $56.00
JP Morgan downgraded Carrier Global from Neutral to Underweight and set a new price target of $53.00
BofA Securities downgraded Carrier Global from Neutral to Underperform and set a new price target of $55.00 from $62.00 previously
Mizuho downgraded Carrier Global from Buy to Neutral and set a new price target of $61.00 from $63.00 previously
Morgan Stanley downgraded Carrier Global from Overweight to Equal-Weight and set a new price target of $47.00 from $49.00 previously
Oppenheimer initiated coverage of Carrier Global with a rating of Outperform and set a new price target of $51.00
PALM BEACH GARDENS, Fla., Aug. 15, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, entered into a definitive agreement today to sell its Commercial and Residential Fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion. "The sale of our Commercial and Residential Fire business marks a defining step in our planned business exits critical to our transformational journey to becoming a focused, agile, higher-growth, pure-play company dedicated to creating a more sustainable worl
PALM BEACH GARDENS, Fla., Aug. 9, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR) (the "Company") today announced the Reference Yields for its previously announced cash tender offers (the "Tender Offers"), in the order of priority set forth in the table below, for the outstanding notes listed in the table below (collectively, the "Securities" and each, a "series") such that (i) the aggregate purchase price (excluding accrued and unpaid interest) for all Securities purchased in the Tender Offers does not exceed $1.0 billion (the "Aggregate Purchase Price") and (ii) the aggregate principal amount of (x) the Company's 5.900% Notes due 2034 (the "Notes due 2034") purchased in the Ten
PALM BEACH GARDENS, Fla., Aug. 8, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR) (the "Company") today announced the early tender results for its previously announced cash tender offers (the "Tender Offers"), in the order of priority set forth in the table below, for the outstanding notes listed in the table below (collectively, the "Securities" and each, a "series") such that (i) the aggregate purchase price (excluding accrued and unpaid interest) for all Securities purchased in the Tender Offers does not exceed $800,000,000 (the "Aggregate Purchase Price") and (ii) the aggregate principal amount of (x) the Company's 5.900% Notes due 2034 (the "Notes due 2034") purchased in the
INDIANAPOLIS, Aug. 6, 2024 /PRNewswire/ -- Carrier and Sibi, a technology platform for supply chains, are collaborating to transform the HVAC industry through enhanced data-driven efficiency and the creation of a new optimized supply chain management system. Carrier is a part of Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions. As part of the agreement, Sibi's flagship integration products will connect home builders directly with Carrier's distribution channel partners. The platforms will allow channel partners to place orders for Carrier solutions directly through Sibi's interface, saving time and resulting in a more streamlined supply chain
BEVERLY, Mass., Aug. 2, 2024 /PRNewswire/ -- Carrier Global Corporation, on behalf of its Sensitech business, a world leader in supply chain visibility, has completed its acquisition of the Monitoring Solutions business of Berlinger & Co. AG, a Swiss family-owned company that specializes in innovative and customized solutions for monitoring temperature-sensitive goods in the pharmaceutical and life science, clinical trial and global health segments. Sensitech is part of Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions. "This suc
PALM BEACH GARDENS, Fla., July 26, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR) (the "Company") today announced that it has commenced tender offers to purchase for cash the debt securities issued by the Company listed in the table below (collectively, the "Securities" and each, a "series"). Up to $800,000,000 Aggregate Purchase Price for the Securities of Carrier Global Corporation Listed Below in the Acceptance Priority Levels and Subject to the Series Tender Caps Listed Below Title of Security CUSIP Number / ISIN Number Principal Amount Outstanding Acceptance
Net sales of $6.7 billion up 12% versus second quarter 2023; organic sales up 2%GAAP EPS of $2.55 up significantly and adjusted EPS of $0.87 up double-digitsGAAP operating margin expanded significantly year over year; adjusted operating margin expanded 200 bpsReaffirming full year 2024 adjusted EPS guidance rangeClosed two of four business exit transactions; remaining two on-trackExpect to repurchase about $1 billion worth of shares in the second half of 2024PALM BEACH GARDENS, Fla., July 25, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, today reported strong financial results for the second quarter of 2024 and reaffir
PALM BEACH GARDENS, Fla., July 9, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, will release its second quarter 2024 earnings on Thursday, July 25, 2024 and host a conference call and webcast at 7:30 a.m. ET. The webcast and presentation will be available at ir.carrier.com. To listen to the earnings call by phone, participants must pre-register at Carrier Earnings Call Registration. All registrants will receive dial-in information and a PIN allowing access to the live call. A recording will be archived a
Creates Standalone Platform Spectrum Safety Solutions NEW YORK, July 2, 2024 /PRNewswire/ -- Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, announced today that it acquired the industrial fire business from Carrier Global Corporation (NYSE:CARR) at an enterprise value of $1.425 billion. Sentinel's purchase creates Spectrum Safety Solutions, a new standalone platform. Headquartered in Stamford, Connecticut, Spectrum is a leading manufacturer of branded industrial fire detection and suppression products and services in mission-critical and high-hazard environments. Spectrum's four highly recognized industrial safety brands are Det-Tronics, Mar
Net proceeds of approximately $1.1B expected to be used to pay down debtGlobal Commercial Refrigeration sale expected to close by the end of Q3Sale process of Commercial and Residential Fire progressing as expectedPALM BEACH GARDENS, Fla., July 2, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, today announced it has completed the sale of its Industrial Fire business to Sentinel Capital Partners for an enterprise value of $1.425 billion. "We continue to make great progress on our planned business exits, wi
PALM BEACH GARDENS, Fla., Sept. 29, 2022 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, today announced that Susan N. Story, former President and Chief Executive Officer of American Water Works Company, Inc., has been elected to Carrier's Board of Directors, effective Jan. 15, 2023. She will serve on the Board's Audit and Compensation Committees. "Susan is a highly accomplished and successful business leader with significant expertise in finance, operations, cy
PALM BEACH GARDENS, Fla., Dec. 17, 2021 /PRNewswire/ -- Carrier Global Corporation (NYSE:CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, today announced that director John V. Faraci will not stand for re-election at the company's upcoming Annual Meeting of Shareowners on April 14, 2022. Mr. Faraci will continue to serve on the Board until the Annual Meeting. "On behalf of the Board of Directors and everyone at Carrier, I would like to express our sincere gratitude and thanks to John who, as Executive Chairman,
PALM BEACH GARDENS, Fla., June 9, 2021 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR) today announced that Beth Wozniak, Chief Executive Officer and Director of nVent Electric plc, has been appointed to Carrier's Board of Directors. Prior to leading nVent, Wozniak was Senior Vice President & President of Pentair's electrical business. Pentair spun its electrical business to form nVent in April 2018. Before joining Pentair, Wozniak held key leadership and P&L roles during her 25-year tenure at Honeywell, including overseeing critical technologies for HVAC systems. In her various roles she has developed deep experience in sensing, automation, controls and electrification, and in appl
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Carrier Global Corp (NYSE:CARR) shares are trading lower after it reported second-quarter FY24 results. Net sales rose 12% Y/Y to $6.70 billion, missing the consensus of $7.00 billion. Revenue included 2% organic growth and a 12% boost from the Viessmann Climate Solutions acquisition, partially offset by a 2% decline from divestitures. GAAP operating profit of $3.7 billion was up over 650% from last year, primarily due to the gain on the sale of Access Solutions and the addition of Viessmann Climate Solutions. Adjusted operating profit of $1.2 billion was up 26% Y/Y, driven by contribution from Viessmann Climate Solutions. Carrier Chairman & CEO David Gitlin said, “We delivered s
Carrier Global (NYSE:CARR) reported quarterly earnings of $0.87 per share which beat the analyst consensus estimate of $0.84 by 3.57 percent. The company reported quarterly sales of $6.70 billion which missed the analyst consensus estimate of $7.00 billion by 4.29 percent. This is a 11.82 percent increase over sales of $5.99 billion the same period last year.
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Below are some instances of options activity happening in the Industrials sector: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume UBER CALL TRADE BULLISH 07/19/24 $70.00 $56.7K 25.3K 12.5K FLR CALL SWEEP BEARISH 11/
In the latest quarter, 10 analysts provided ratings for Carrier Global (NYSE:CARR), showcasing a mix of bullish and bearish perspectives. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 6 2 0 0 Last 30D 0 1 0 0 0 1M Ago 1 1 0 0 0 2M Ago 0 1 0 0 0 3M Ago 1 3 2 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $70.7, a high estimate of $81.00, and a low estimate of $63.00. Marking an increase of 6.12%, the current average surpasses th
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Piper Sandler cut the price target for Schlumberger Limited (NYSE:SLB) from $71 to $66. Piper Sandler analyst Luke Lemoine maintained an Overweight rating. SLB shares gained 0.5% to close at $46.42 on Friday. See how other analysts view this stock. Oppenheimer boosted the price target for The Trade Desk, Inc. (NASDAQ:TTD) from $105 to $120. Oppenheimer analyst Jason Helfstein maintained an Outperform rating. Trade Desk shares gained 0.9% to close at $99.44 on Friday. See how other analysts view thi
Baird analyst Timothy Wojs upgrades Carrier Global (NYSE:CARR) from Neutral to Outperform and raises the price target from $64 to $75.
Honeywell International Inc (NASDAQ:HON) has agreed to acquire Air Products And Chemicals, Inc.’s (NYSE:APD) liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction. This acquisition, which is approximately 13 times the estimated 2024 EBITDA, will significantly enhance Honeywell’s energy transformation offerings. The acquisition will enable Honeywell to offer a comprehensive solution for managing energy transformation, including natural gas pre-treatment and advanced liquefaction technologies. These services will be integrated under the Honeywell Forge and Experion platforms, providing efficient and reliable management of na