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Carrier Global Corporation (CARR), headquartered in Palm Beach Gardens, Florida, provides heating, ventilating, air conditioning, refrigeration, fire, security, and building automation technologies. Valued at $56.1 billion by market cap, the company also provides building services such as audit, design, installation, system integration, repair, maintenance, and monitoring.
Shares of this global leader in intelligent climate and energy solutions have underperformed the broader market over the past year. CARR has gained 12.4% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 18.2%. However, things are looking up for the stock in 2024, with CARR’s stock up 12.2%, surpassing SPX’s 11.5% rise on a YTD basis.